What requirements does an innovation need to have in order to be recognized as a good invention?
If you (or somebody) makes millions of dollars from it, then I would say it is a good invention.
"Good" requires a more in-depth explanation by you. If this is some school essay that you have to write, either your instructor has a set of definitions for you to stick to, or you are free to make your own set of criteria.
My take on it is that the invention has to be "useful", and useful to a lot of people, not just a few. Most (but not all) good inventions are patented. Most, but not all, of people who invented something useful make some money out of it. An example of the exception to those two is the invention of the World Wide Web.
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