Novelty, Creativity, Innovation and Invention

Novelty is the quality of being new. Although it may be said to have an objective dimension (e.g. a new style of art coming into being, such as abstract art or impressionism) it essentially exists in the subjective perceptions of individuals.

Creativity is the generation of new ideas or a new way of doing things.

Innovation is the process of making improvements by introducing something new, the realization of a creative idea in a social context. Innovation is a process by which an idea or invention is translated into a good or service for which people will pay. To be called an innovation, an idea must be replicable at an economical cost and must satisfy a specific need.

Invention is the act of finding out or inventing; contrivance or construction of that which has not before existed; as, the invention of logarithms; the invention of the art of printing.
Source : Lesson in class and internet