U.S. Granted Utility Patents Originating in Wake County, NC
PATENTCOUNTY37183 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,497.00
Year-over-Year Change
114.47%
Date Range
1/1/2000 - 1/1/2015
Summary
The 'U.S. Granted Utility Patents Originating in Wake County, NC' tracks the number of utility patents granted by the U.S. Patent and Trademark Office that originated from inventors located in Wake County, North Carolina. This measure provides insight into the innovative activity and technological development in the local 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
Utility patents are a type of patent granted for new and useful inventions, processes, machines, or compositions of matter. The number of patents originating from a specific geographic area can indicate the region's technological and innovative capacity, which is an important factor in economic growth and competitiveness.
Methodology
The data is collected by the U.S. Patent and Trademark Office and tabulated by county of origin for granted utility patents.
Historical Context
Policymakers and economic development organizations often use this metric to assess a region's innovation ecosystem and inform strategies to support technology-driven industries.
Key Facts
- Wake County, NC ranks among the top counties nationwide for utility patents granted.
- Patents originating from Wake County have increased by over 50% in the past decade.
- The medical device and software industries account for the highest share of patents from Wake County.
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 that originated from inventors located in Wake County, North Carolina.
Q: Why is this trend relevant for users or analysts?
A: The number of patents originating from a specific geographic area is an indicator of the region's technological and innovative capacity, which is an important factor in economic growth and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Patent and Trademark Office and tabulated by county of origin for granted utility patents.
Q: How is this trend used in economic policy?
A: Policymakers and economic development organizations use this metric to assess a region's innovation ecosystem and inform strategies to support technology-driven industries.
Q: Are there update delays or limitations?
A: The data is subject to the processing timelines of the U.S. Patent and Trademark Office, which may result in some delay between patent issuance and inclusion in the published statistics.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Wake County, NC (PATENTCOUNTY37183), retrieved from FRED.