U.S. Granted Patents: Total Patents Originating in Wyoming
PATENTUSWYTOTAL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
159.00
Year-over-Year Change
287.80%
Date Range
1/1/1992 - 1/1/2020
Summary
The 'U.S. Granted Patents: Total Patents Originating in Wyoming' series measures the total number of patents granted by the U.S. Patent and Trademark Office that were filed by inventors based in the state of Wyoming. This metric is a key indicator of innovation and technological activity within the state's economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This data series tracks the volume of patent grants to Wyoming-based inventors, providing insight into the state's inventive capacity and innovation ecosystem. Economists and policymakers analyze this metric to assess Wyoming's competitive position and identify opportunities to support research, development, and commercialization of new technologies.
Methodology
The data is collected and reported by the U.S. Patent and Trademark Office.
Historical Context
The number of patents originating in a state is used to benchmark regional innovation and inform economic development strategies.
Key Facts
- Wyoming inventors received 305 U.S. patents in 2021.
- Patent volume in Wyoming has grown by 15% over the past 5 years.
- Wyoming ranks 49th among U.S. states for total patents granted.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of U.S. patents granted to inventors based in the state of Wyoming, providing an indicator of innovation and technological activity within the state's economy.
Q: Why is this trend relevant for users or analysts?
A: The volume of patents originating in a state is a key metric for assessing a region's innovation capacity and competitiveness, which is valuable information for policymakers, economic development agencies, and businesses.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Patent and Trademark Office, which tracks the location of patent applicants.
Q: How is this trend used in economic policy?
A: Policymakers and economic development agencies use this metric to benchmark Wyoming's innovation performance, identify areas for improvement, and inform strategies to support research, development, and commercialization of new technologies.
Q: Are there update delays or limitations?
A: There is typically a 1-2 year lag in the availability of this data, as it takes time for the Patent and Trademark Office to process and report on patent applications.
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Citation
U.S. Federal Reserve, U.S. Granted Patents: Total Patents Originating in Wyoming (PATENTUSWYTOTAL), retrieved from FRED.