U.S. Granted Utility Patents Originating in Midland County, TX
PATENTCOUNTY48329 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
33.00
Year-over-Year Change
312.50%
Date Range
1/1/2000 - 1/1/2015
Summary
The 'U.S. Granted Utility Patents Originating in Midland County, TX' trend measures the volume of utility patents granted to inventors and companies located in Midland County, Texas. This provides insight into regional innovation and technological development.
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, machines, or processes. Tracking patents originating in Midland County, a key center of the U.S. energy industry, can indicate the pace of technological change and commercial innovation in the region.
Methodology
The data is collected and reported by the U.S. Patent and Trademark Office.
Historical Context
Policymakers and economic analysts use this patent data to assess regional competitiveness and identify centers of technological advancement.
Key Facts
- Midland County, TX is a leading center for U.S. energy industry patents.
- Utility patents account for the majority of all patents granted in the U.S.
- Patent data is a key indicator of regional technological and commercial development.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of utility patents granted to inventors and companies located in Midland County, Texas. Utility patents cover new and useful inventions, machines, or processes.
Q: Why is this trend relevant for users or analysts?
A: Patent data provides insight into the pace of technological change and innovation in a given region. Tracking patents originating in Midland County, a key energy industry hub, can indicate the competitiveness and commercial development of the local economy.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Patent and Trademark Office, which grants utility patents to inventors and companies.
Q: How is this trend used in economic policy?
A: Policymakers and economic analysts use this patent data to assess regional competitiveness and identify centers of technological advancement, which can inform economic development strategies.
Q: Are there update delays or limitations?
A: There may be some delay between when patents are granted and when the data is published, as the Patent Office processes applications. The data also only covers utility patents, not other types of intellectual property.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Midland County, TX (PATENTCOUNTY48329), retrieved from FRED.