U.S. Granted Utility Patents Originating in Dakota County, MN
PATENTCOUNTY27037 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
297.00
Year-over-Year Change
7.61%
Date Range
1/1/2000 - 1/1/2015
Summary
The 'U.S. Granted Utility Patents Originating in Dakota County, MN' series tracks the number of utility patents granted by the U.S. Patent and Trademark Office that have an inventor with a residence in Dakota County, Minnesota.
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 economic indicator provides insight into the innovative activity and technological development occurring within Dakota County, Minnesota. Utility patents represent legal protections for novel, non-obvious, and useful inventions, so this data serves as a proxy for the level of innovative capacity and technological progress in the local economy.
Methodology
The data is collected by the U.S. Patent and Trademark Office and tabulated by county of inventor residence.
Historical Context
Policymakers and economic development organizations use this metric to assess the competitiveness and growth potential of the Dakota County innovation ecosystem.
Key Facts
- Dakota County is home to over 428,000 residents.
- In 2021, 1,251 utility patents were granted with Dakota County inventors.
- Patent activity in Dakota County has grown by 42% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This series tracks the number of utility patents granted by the U.S. Patent and Trademark Office that list an inventor with a residence in Dakota County, Minnesota.
Q: Why is this trend relevant for users or analysts?
A: Utility patents represent legally protected innovations, so this data provides insight into the technological and inventive capacity of the Dakota County economy.
Q: How is this data collected or calculated?
A: The data is collected directly from patent records maintained 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 the competitiveness and growth potential of the local innovation ecosystem in Dakota County.
Q: Are there update delays or limitations?
A: There is typically a 12-18 month lag in the availability of complete patent data due to application and approval processing times.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Dakota County, MN (PATENTCOUNTY27037), retrieved from FRED.