The International Organization for Standardization (ISO) has published the latest standard in its innovation management series. ISO 56000 ("Innovation management – Fundamentals and vocabulary"), is the fourth of an eight-part series of standards and other guidance documents designed to help organisations use the correct terminology for innovation management and communicate consistently about their processes, achievements and learning paths. It provides the vocabulary, fundamental concepts and principles of innovation management, and is useful for organisations wanting to make their innovation management activities visible and credible.

The experts that created ISO 56000 worked closely with the Organisation for Economic Co-operation and Development (OECD) to establish a common understanding of the concept of innovation. The agreed definitions are now used in both ISO standards and in the OECD-EU’s Oslo Manual, which is the international reference guide for collecting and using data on innovation.

The World Bank, the World Intellectual Property Organization (WIPO) and the World Trade Organization (WTO) were also consulted on technical points of terminology at several stages of the standard’s development.