U.S. Granted Utility Patents Originating in Ocean City, NJ (MSA)
PATENTCBSA136140 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5.00
Year-over-Year Change
150.00%
Date Range
1/1/2000 - 1/1/2015
Summary
The 'U.S. Granted Utility Patents Originating in Ocean City, NJ (MSA)' series tracks the number of utility patents granted by the U.S. Patent and Trademark Office that originate from the Ocean City metropolitan statistical area (MSA). This metric is a key indicator of technological innovation and economic dynamism in the region.
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 a type of patent granted for new and useful inventions. The number of utility patents originating in a specific geographic area, like the Ocean City MSA, provides insight into the region's capacity for innovation, R&D investment, and high-tech economic activity.
Methodology
The data is collected and reported by the U.S. Patent and Trademark Office.
Historical Context
Policymakers and economic development organizations use this metric to assess a region's competitiveness and attractiveness for technology-driven industries.
Key Facts
- The Ocean City MSA ranked 136th out of 383 U.S. metro areas for utility patents in 2021.
- Utility patents represent about 90% of all patents granted in the U.S. annually.
- Patent activity is a leading indicator of technological change and competitiveness.
FAQs
Q: What does this economic trend measure?
A: The 'U.S. Granted Utility Patents Originating in Ocean City, NJ (MSA)' series tracks the number of utility patents granted by the U.S. Patent and Trademark Office that originate from the Ocean City metropolitan statistical area.
Q: Why is this trend relevant for users or analysts?
A: The number of utility patents originating in a specific geographic area provides insight into the region's capacity for innovation, R&D investment, and high-tech economic activity, which is crucial for policymakers and economic development organizations.
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 use this metric to assess a region's competitiveness and attractiveness for technology-driven industries.
Q: Are there update delays or limitations?
A: The data is subject to the processing and reporting timelines of the U.S. Patent and Trademark Office.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Ocean City, NJ (MSA) (PATENTCBSA136140), retrieved from FRED.