U.S. Granted Utility Patents Originating in Albany-Schenectady-Troy, NY (MSA)
PATENTCBSA110580 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,090.00
Year-over-Year Change
64.90%
Date Range
1/1/2000 - 1/1/2015
Summary
This economic trend measures the number of utility patents granted to inventors originating from the Albany-Schenectady-Troy, NY metropolitan statistical area (MSA). Utility patents reflect innovative activity and are a key indicator of regional economic competitiveness.
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
The U.S. Patent and Trademark Office (USPTO) grants utility patents for new and useful inventions. This metric tracks patents originating from the Albany-Schenectady-Troy, NY MSA, providing insights into the area's innovation capacity and potential for economic growth.
Methodology
The data is collected and calculated by the USPTO based on the geographic location of patent applicants.
Historical Context
Policymakers and economic development agencies use this metric to assess a region's innovation ecosystem and guide strategies to spur technological advancement.
Key Facts
- The Albany-Schenectady-Troy, NY MSA is home to several major research universities and technology companies.
- Utility patents reflect new and useful inventions, as opposed to design or plant patents.
- Trends in utility patents can signal changes in a region's innovation capacity and economic competitiveness.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of utility patents granted to inventors originating from the Albany-Schenectady-Troy, NY metropolitan statistical area (MSA).
Q: Why is this trend relevant for users or analysts?
A: Utility patents are a key indicator of innovative activity and economic competitiveness within a region. Tracking this metric helps policymakers and economic development agencies assess the innovation ecosystem and guide strategies to spur technological advancement.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Patent and Trademark Office (USPTO) based on the geographic location of patent applicants.
Q: How is this trend used in economic policy?
A: Policymakers and economic development agencies use this metric to evaluate a region's innovation capacity and guide strategies to support technological advancement and economic growth.
Q: Are there update delays or limitations?
A: There may be delays in data reporting and availability due to the administrative processes of the USPTO.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Albany-Schenectady-Troy, NY (MSA) (PATENTCBSA110580), retrieved from FRED.