The technology may be a way to develop a new product, new material, etc. In this case, Intellectual Property may be a key asset. But innovation and new technologies are not synonymous. For example, new Business Models or new services may be developed without cutting edge technology.
An invention is not widely used. A brilliant idea and perseverance do not always lead to market acceptance and payback.
A discovery is the observation of an existing phenomena and not the development and use of something new.
Confusion between these concepts is frequent because an invention may be the trigger for companies to innovate, and technology is very often the founda-
tion needed to build something new.