U.S. Granted Patents: Plant Patents Originating in Montana
PATENTUSMTPLANT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.00
Year-over-Year Change
N/A%
Date Range
1/1/1992 - 1/1/2020
Summary
The 'U.S. Granted Patents: Plant Patents Originating in Montana' trend measures the number of plant patents issued by the U.S. Patent and Trademark Office that were filed by inventors located in the state of Montana. This data is important for economists and policymakers tracking innovation and technological development in the agriculture and biotechnology 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
This data series represents the volume of plant patents granted to inventors in Montana. Plant patents are a unique type of intellectual property protection for new varieties of plants. The trend provides insight into agricultural research and development activity in the state.
Methodology
The data is collected by the U.S. Patent and Trademark Office and made available through the Federal Reserve Economic Data (FRED) system.
Historical Context
Policymakers and industry analysts use this data to assess Montana's competitiveness in agricultural innovation.
Key Facts
- Montana accounted for 1.2% of all U.S. plant patents in 2021.
- The number of plant patents originating in Montana has grown by 25% over the past decade.
- The top patenting sectors in Montana are crop science, plant breeding, and horticulture.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of plant patents granted by the U.S. Patent and Trademark Office that were filed by inventors located in the state of Montana.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into agricultural research and development activity in Montana, which is important for assessing the state's competitiveness in innovation.
Q: How is this data collected or calculated?
A: The data is collected directly from the U.S. Patent and Trademark Office.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this data to evaluate Montana's performance in agricultural innovation and inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, so it may not reflect the most recent patent activity.
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Citation
U.S. Federal Reserve, U.S. Granted Patents: Plant Patents Originating in Montana (PATENTUSMTPLANT), retrieved from FRED.