U.S. Granted Patents: Utility Patents Originating in Ohio
PATENTUSOHUTILITY • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,583.00
Year-over-Year Change
105.79%
Date Range
1/1/1992 - 1/1/2020
Summary
The 'U.S. Granted Patents: Utility Patents Originating in Ohio' trend measures the number of utility patents issued by the U.S. Patent and Trademark Office that originate from the state of Ohio. This metric is a key 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
Utility patents are a type of patent granted for new and useful inventions, processes, or improvements. Tracking the volume of utility patents originating in Ohio provides insights into the state's capacity for innovation and ability to commercialize new technologies.
Methodology
The data is collected by the U.S. Patent and Trademark Office based on the state of origin for each granted utility patent.
Historical Context
Policymakers and economic development agencies use this metric to assess Ohio's competitiveness in research, development, and technology-driven industries.
Key Facts
- Ohio ranks 7th among U.S. states for utility patents granted.
- Patent activity is concentrated in the Cleveland and Columbus metro areas.
- The number of Ohio utility patents has grown by 25% over the past decade.
FAQs
Q: What does this economic trend measure?
A: The 'U.S. Granted Patents: Utility Patents Originating in Ohio' trend measures the number of utility patents issued by the U.S. Patent and Trademark Office that originate from the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: Tracking utility patents originating in Ohio provides insights into the state's capacity for innovation and ability to commercialize new technologies, which is important for assessing its economic competitiveness.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Patent and Trademark Office based on the state of origin for each granted utility patent.
Q: How is this trend used in economic policy?
A: Policymakers and economic development agencies use this metric to assess Ohio's competitiveness in research, development, and technology-driven industries, and to inform strategies for promoting innovation and economic growth.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical 2-3 month lag, so it may not reflect the most recent patent activity.
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Citation
U.S. Federal Reserve, U.S. Granted Patents: Utility Patents Originating in Ohio (PATENTUSOHUTILITY), retrieved from FRED.