Cycle of creation of innovation and its implementation into production is considered for the permanent renewal and development of corporation manufacturing. The hierarchical model of the control system of this cycle is proposed. The result of the functioning of the innovation cycle can be modeled using the innovative production function of corporation. The problem of its adaptive identification is formulated. Sufficient conditions for such identification are obtained taking into account the interests of the elements of the corporation's production system. These conditions are illustrated by the application of adaptive identification of innovative production function with the quadratic losses to wagon-repair production of large-scale corporation Russian Railways.