re-invent

To take on an existing design or invention and changing it sufficiently to not infringe on copyright or patents. Ocassionally someone actually improves on a design for the better.

SJ: At long last I have made an iPhone that does not drop calls unless you are left handed or sweaty.

BG: Thats pretty good but it's not exactly re-inventing the wheel is it?

SJ: No not really but it's slightly better than the last one and double the price.

BG: Touché

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