Novel is one well-known to each of us (3,6,6)
I believe the answer is:
our mutual friend
'novel' is the definition.
(I've seen this before)
I can't explain the rest of the clue.
Can you help me to learn more?
(Other definitions for our mutual friend that I've seen before include "you and I know and like" , "Novel" , "someone we both know" , "John Harmon" , "China we share" .)