As two different mechanisms of intellectual property (IP) protection, an essential difference between a patent and a copyright is as follows:
A patent lasts only for twenty years but a copyright lasts forever.
A patent only applies to a product and a copyright to a process.
A patent could also be enforceable on a written work, provided the inventor chose to file an application to that effect.
Unlike acquiring a patent, obtaining a copyright does not require any application or registration.
Compared to invention, innovation primarily focuses on adopting, and with the following three major tasks (works):
Offering, adopting, and sustaining.
Skunkworks, commercialization, and market penetration.
Visioning, developing, and delivery.
Lead user involvement, prototyping, and branding.
Design options for corporate venturing include all of the following, except:
Direct integration with existing businesses.
Divestment and spin-off.
Sharing competitive intelligence with competitors.
A separate corporate venturing unit, department, or division.