Novelty
Base on what I have studies, novelty is about the quality of being  new or  unique I notice that novelty have two different types  that is subjective and objective novelty.
- for subjective novelty is - Point of view of anything and  everything being new or different,meanwhile objective novelty is a progression about something new through generation
 
Let me show an example of novelty ..
 the vintage novelty pistol gun hairdryer
the vintage novelty pistol gun hairdryerhttp://www.vimby.com/blog/2008/08/13/hair-suicide/
Innovation
- for me innovation is  the ability or process to turn some existed thing into something new
 
- accepted by the  public or community
 
- Innovation also need to be  satisfy the particular need of everyone.
 
as we all knew this might be the old version of chair ,but in this new era, many designed chair that also have a another function besides just sitting on its such as..
http://www.youtube.com/watch?v=a7Ny5BYc-Fs
Invention
In my opinion,invention is a process of creating the new idea from the knowledge or experience that we learn from day to day to create or produce a something new and useful for everyone to use it in everyday life
"Make a better mousetrap, and the world will beat a path to your door." -Ralph Waldo Emerson
"Discovery consists of seeing what everybody has seen and thinking what nobody has thought."
Albert Szent-Gyorgi,Nobel Prize 193 
here is a image that I found interested..
.jpg) hyanide snow bike
hyanide snow bikehttp://www.menstech.com/category/other/?snap=H


 
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