I think all your questions will be answered on this well put together guide on the US forums 
CLICK HERE FOR LINK
If you need to know anything more specific just ask.
@Damz Find me on the global channel Union Chat. One of the best "chat channels" ingame!
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With regards to this whole invention deal, I was wondering if there was a level cap?
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It's probably mentioned in the guide posted by our lovely Damz, but it goes from level 10 to level 50.
And if you're wondering how powerful IOs are, they enhance each effect in the power about as much as SOs, but in multiple effects in some IOs (like Accuracy and Damage IO gives both added Acc and Damage in one power) and a set IO (basically the IOs with the funny names like Positron's Blast, Luck of the Gambler etc) combined with the IOs from the same set will give you set bonuses, basically an increase in your stats. (For example, 2 IOs from Luck of the Gambler in the same power will give you 10% increased regen IIRC)
I think I'll end my post, further information can be found in the guide linked to by Damz.
I recently returned to CoX after a 2 year break due to playing Wow and after Looking at all the new stuff they implemented, i am feeling pretty excited especially with the potential i14 looks to introduce.
But i'm straying from my question lol
With regards to this whole invention deal, I was wondering if there was a level cap? or maybe one of you could possibly point me in the direction for a semi guide which explains it a bit more than the "help" in game?
appreciate any help you ladies n gents could offer.