Neology
You "coin" it. Inventing a new word is called "coining" a new word.
When a new word can be traced to an individual, usually a very prominant person or literary figure, we can say that the person "coined" the new word. In the big picture, rarely can we attribute the coining of a word to an individual. Usually, words take hold in a more organic way, over periods of time. Words can be made in a few different ways. New words coined by individuals or general usage are referred to as neologisms.
Recycling?
Shakespeare had a great effect on the English language, coining new words and giving old expressions lasting popularity through his plays. He became famous outside England after his death.
Neologisms
It is called portmanteaus.
Inventing a word is called "coining", in likeness to the way a government coins money by stamping out metal disks.The expression "to coin a phrase" means to invent a new phrase, but it is most often used humorously to excuse the use of some very common, overused phrase.A new word, especially one that is starting to get used but is not yet universally accepted, is called a neologism.
Car coining There is a practice in New Jersey and New York of tossing a few coins onto the floor of a newly purchased car as a sign of good luck. This practice originated as a practical one. Because of the area's many toll roads, many drivers would carry change in their cars. The friends and family of the new car owner would throw coins onto the floor of the new car so if they driver ever ran out of his own money, he could always reach down and find some extra money on the floor.
Glossary
Clincher sentence
Dr. Normal Day has a practice in New York called "Day Plastic Surgery". The practice is located on Park Avenue. You can contact this office at 212-396-3259.
Practice, Practice, Practice.