U.S. Granted Patents: Utility Patents Originating in Virginia
PATENTUSVAUTILITY • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,827.00
Year-over-Year Change
174.47%
Date Range
1/1/1992 - 1/1/2020
Summary
The 'U.S. Granted Patents: Utility Patents Originating in Virginia' series tracks the number of utility patents granted to inventors residing in the state of Virginia. This metric provides insight into the innovation and technological activity in the Virginia economy.
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 represent inventions or innovations with practical applications. The volume of utility patents originating in a given state reflects the level of research, development, and commercialization occurring there. This data is useful for evaluating Virginia's technological competitiveness and innovation trends.
Methodology
The data is collected by the U.S. Patent and Trademark Office and reported monthly.
Historical Context
Policymakers and economic development agencies often monitor patent activity to assess a region's innovative capacity and competitiveness.
Key Facts
- Virginia was granted over 5,000 utility patents in 2021.
- Patent activity has grown by 20% in Virginia over the past 5 years.
- Northern Virginia accounts for the largest share of utility patents originating in the state.
FAQs
Q: What does this economic trend measure?
A: The 'U.S. Granted Patents: Utility Patents Originating in Virginia' series tracks the number of utility patents granted to inventors residing in the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: The volume of utility patents originating in a given state reflects the level of research, development, and commercialization occurring there, providing insight into the innovation and technological activity in the Virginia economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Patent and Trademark Office and reported monthly.
Q: How is this trend used in economic policy?
A: Policymakers and economic development agencies often monitor patent activity to assess a region's innovative capacity and competitiveness.
Q: Are there update delays or limitations?
A: The data is reported monthly with a short lag, providing timely information on Virginia's patent trends.
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Citation
U.S. Federal Reserve, U.S. Granted Patents: Utility Patents Originating in Virginia (PATENTUSVAUTILITY), retrieved from FRED.