thomas edison..,”. Created world’s first R&D lab in Menlo Park and staffed with diverse experts, later moved to West Orange NJ (very cool museum there now)Had more than 1,000 patentsLots of contract work, close connections to customers and their problemsDuring his lifetime, Edison was involved in more than 150 businesses either as inventor, investor, licensee, licensor, senior manager, or board member. The tremendous success of Edison is attributable both to his skill in designing new technologies, and to willingness to experiment with different business models for creating super-value. His business empire was worth $21.6 billion in 1920.GREAT EXAMPLE of the difference between invention and innovation. He did NOT invent the light bulb, there were patents on versions of light bulb going way back to 1800. Here is HIS patent for the light bulb (next. Edison INNOVATED by creating a usable (long lasting and could be manufactured in mass), commercially viable light bulb
by also creating the world’s first electrical generation system and by building a light bulb manufacturing facility”