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An invention is a unique or novel device, method, composition, idea, or process. An invention may be an improvement upon a machine, product, or process for increasing efficiency or lowering cost. It may also be an entirely new concept. If an idea is unique enough either as a stand-alone invention or as a significant improvement over the work of others, it can be patented. A patent, if granted, gives the inventor a proprietary interest in the patent over a specific period of time, which can be licensed for financial gain.

Source: Wikipedia