As defined in Wikipedia,
Novelty (derived from Latin word novus for "new") 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 ability to generate innovative ideas and manifest them from thought into reality. The process involves original thinking and then producing.
Innovation is a change in the thought process for doing something, or the useful application of new inventions or discoveries. It may refer to an incremental emergent or radical and revolutionary changes in thinking, products, processes, or organizations.
Invention is a new composition, device, or process. An invention may be derived from a pre-existing model or idea, or it could be independently conceived in which case it may be a radical breakthrough. In addition, there is cultural invention, which is an innovative set of useful social behaviors adopted by people and passed on to others.
In summary, from my understanding, Novelty can be defined as creating something new and original. While, Innovation is a process of turning an idea into practical reality and Invention is transform an existing idea into a better solution.
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