How Innovation Differs from Invention

Invention   

This is usually defined as the discovery of a new item. Whether it is a new drug, device, or other piece of technology, it is unique and no similar one exists. Unfortunately, most invention comes from outside of the profession, with individuals using their skills to bring inventions to pharmacy practice. The invention should result in a patent submission because of its novelty and lack of prior art. 

Innovation 

This term usually comes after the invention has occurred. This can either be an improvement on a current system or a process that makes things better than their current state. Innovation could also involve taking an existing idea that was implemented at 1 site and replicating it at another. Because anything unique is often considered innovative. They are improvements of an existing service, as opposed to the creation of new technology.

 Entrepreneurship 

This term applies when someone takes a novel idea and creates a new business from it. The entrepreneur is usually the founder who gets an equity stake in the start-up company. 
The company could be based on an invention or innovation, but it has to have a commercial base to support it. Those who start and own an independent pharmacy would be considered entrepreneurs. Starting and running a business requires very different skills than inventing and innovating. 
Some might choose to turn their invention into a business, while others might allow someone else to use their invention to start a company.