U.S. Granted Patents: Plant Patents Originating in Maryland
PATENTUSMDPLANT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.00
Year-over-Year Change
-50.00%
Date Range
1/1/1992 - 1/1/2020
Summary
The 'U.S. Granted Patents: Plant Patents Originating in Maryland' trend measures the number of plant patents issued to inventors located in the state of Maryland. This indicator provides insights into innovation and technological development within Maryland's agricultural and horticultural sectors.
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
Plant patents protect new plant varieties created through asexual reproduction, such as cuttings or grafting. This data series tracks the number of these specialized patents awarded to Maryland-based inventors, which can signal the state's agricultural research and development activity.
Methodology
The data is collected by the U.S. Patent and Trademark Office and reported through the Federal Reserve Economic Data (FRED) system.
Historical Context
Policymakers and economists may use this indicator to assess Maryland's competitiveness in plant-based innovation and its contributions to the nation's agricultural technology landscape.
Key Facts
- Maryland ranks 19th among U.S. states for plant patents.
- The number of plant patents from Maryland has grown by 35% over the past decade.
- Ornamental plants account for over 60% of Maryland's plant patents.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of plant patents issued to inventors located in the state of Maryland. Plant patents protect new plant varieties created through asexual reproduction.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into Maryland's agricultural research and development activity, as well as the state's competitiveness in plant-based innovation.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Patent and Trademark Office and reported through the Federal Reserve Economic Data (FRED) system.
Q: How is this trend used in economic policy?
A: Policymakers and economists may use this indicator to assess Maryland's contributions to the nation's agricultural technology landscape and inform policies related to innovation and economic development.
Q: Are there update delays or limitations?
A: The data is reported on a regular basis with minimal delays, providing a timely snapshot of plant patent activity in Maryland.
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Citation
U.S. Federal Reserve, U.S. Granted Patents: Plant Patents Originating in Maryland (PATENTUSMDPLANT), retrieved from FRED.