U.S. Granted Utility Patents Originating in Auburn-Opelika, AL (MSA)
PATENTCBSA112220 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25.00
Year-over-Year Change
31.58%
Date Range
1/1/2000 - 1/1/2015
Summary
The 'U.S. Granted Utility Patents Originating in Auburn-Opelika, AL (MSA)' trend measures the number of utility patents granted by the U.S. Patent and Trademark Office to inventors located in the Auburn-Opelika metropolitan statistical area (MSA). This metric is an important indicator of regional innovation and technological advancement.
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
Utility patents are granted for new and useful inventions, processes, machines, or compositions of matter. The number of patents originating from a specific geographic area provides insight into the regional innovation ecosystem, including factors like R&D investment, entrepreneurship, and the strength of the local technology sector.
Methodology
The data is collected and reported by the U.S. Patent and Trademark Office.
Historical Context
Policymakers and economic development organizations monitor this metric to assess the competitiveness and growth potential of local innovation hubs.
Key Facts
- The Auburn-Opelika MSA is home to Auburn University, a major research institution.
- Patent activity is concentrated in sectors like advanced manufacturing, software, and biotechnology.
- Patent trends correlate with local economic growth and job creation in high-tech industries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of utility patents granted by the U.S. Patent and Trademark Office to inventors located in the Auburn-Opelika, AL metropolitan statistical area (MSA).
Q: Why is this trend relevant for users or analysts?
A: The number of patents originating from a region is an important indicator of local innovation, technological advancement, and the strength of the local innovation ecosystem.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Patent and Trademark Office.
Q: How is this trend used in economic policy?
A: Policymakers and economic development organizations monitor this metric to assess the competitiveness and growth potential of local innovation hubs.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may not capture all patents granted within a given time period due to processing times at the USPTO.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Auburn-Opelika, AL (MSA) (PATENTCBSA112220), retrieved from FRED.