New Perspective. Innovation is the replacement of something old. In its roots coming from the Latin expression "innovare," which stands for injecting something new, for renewal and exchange in the sense of "creative destruction." The degree of novelty varies from incremental to radical-disruptive. Innovations traditionally relate to products and processes, but also happen in organizational, business and social context as well as especially in respect to technical development, which attractiveness should be assessed in terms of potential and relevance to customer needs. Innovation is not only new, it is also characterized by high complexity, by risk and consequently by its conflict potential. Innovation-friendly structures display a high degree of flexibility coupled with decentralized control, a lot of personal responsibility, a flat hierarchy that fosters communication across system boundaries. The nature of inventions is a first technical realization of the solution to a problem. They can also lead to unplanned results and spillover. Examples for serendipity inventions are manifold, they reach from penicillin all the way to post-its.