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2 : CREATE, INVENT <coin a phrase>

I can honestly say i'd never heard it before. I "created" it, or "invented" it on the spot.

Not even close. Once it's created or invented, it's too late. You can't invent it again, although you have a shot at invent def #2:

cre·ate Audio pronunciation of "create" ( P ) Pronunciation Key (kr-t)
tr.v. cre·at·ed, cre·at·ing, cre·ates

1. To cause to exist; bring into being. See Synonyms at found1.
2. To give rise to; produce: That remark created a stir.
3. To invest with an office or title; appoint.
4. To produce through artistic or imaginative effort: create a poem; create a role.

in·vent Audio pronunciation of "invent" ( P ) Pronunciation Key (n-vnt)
tr.v. in·vent·ed, in·vent·ing, in·vents

1. To produce or contrive (something previously unknown) by the use of ingenuity or imagination.
2. To make up; fabricate: invent a likely excuse.

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