U.S. Granted Patents: Total Patents Originating in Minnesota
PATENTUSMNTOTAL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,734.00
Year-over-Year Change
65.01%
Date Range
1/1/1992 - 1/1/2020
Summary
The 'U.S. Granted Patents: Total Patents Originating in Minnesota' trend measures the total number of patents granted by the U.S. Patent and Trademark Office (USPTO) to inventors and organizations based in the state of Minnesota. This metric is an important indicator of innovation and technological development within the state.
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 series tracks the total number of utility, design, and plant patents issued to Minnesota residents and businesses. It provides insight into the state's inventive capacity and ability to translate research into commercial applications. Policymakers and economists analyze this data to understand Minnesota's competitiveness and contribution to U.S. technological progress.
Methodology
The data is collected directly from USPTO patent records and aggregated by the inventor or assignee's state of residence.
Historical Context
The patent data is widely used to benchmark Minnesota's innovation ecosystem against other states and to inform economic development policies.
Key Facts
- Minnesota consistently ranks among the top 10 states for total patents granted.
- The medical device industry accounts for a significant share of Minnesota's patent activity.
- Patent counts are an important metric for evaluating a state's research and development capabilities.
FAQs
Q: What does this economic trend measure?
A: The 'U.S. Granted Patents: Total Patents Originating in Minnesota' metric tracks the total number of utility, design, and plant patents issued by the U.S. Patent and Trademark Office to inventors and organizations based in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This patent data provides insights into Minnesota's innovation capacity and ability to translate research into commercial applications. It is a key indicator of the state's competitiveness and contribution to U.S. technological progress.
Q: How is this data collected or calculated?
A: The data is collected directly from U.S. Patent and Trademark Office records and aggregated by the inventor or assignee's state of residence.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this patent data to benchmark Minnesota's innovation ecosystem against other states and to inform economic development policies aimed at supporting research, entrepreneurship, and technological advancement.
Q: Are there update delays or limitations?
A: The patent data is typically published with a lag of several months, as the USPTO processes and publishes the information. There may also be limitations in capturing all patents originating in Minnesota due to data reporting issues.
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Citation
U.S. Federal Reserve, U.S. Granted Patents: Total Patents Originating in Minnesota (PATENTUSMNTOTAL), retrieved from FRED.