U.S. Granted Patents: Utility Patents Originating in Washington
PATENTUSWAUTILITY • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,553.00
Year-over-Year Change
143.19%
Date Range
1/1/1992 - 1/1/2020
Summary
The 'U.S. Granted Patents: Utility Patents Originating in Washington' series tracks the total number of utility patents granted by the U.S. Patent and Trademark Office that originate from the state of Washington. 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 the invention of a new and useful process, machine, manufacture, or composition of matter, or a new and useful improvement thereof. Tracking utility patents by state of origin provides insights into regional innovation trends and the geographic distribution of technological advancement across the United States.
Methodology
The data is collected by the U.S. Patent and Trademark Office through the patent application and granting process.
Historical Context
Policymakers and economic analysts use this data to assess the innovation capacity and competitiveness of individual U.S. states.
Key Facts
- Washington state ranked 3rd nationally in utility patents granted in 2021.
- The number of utility patents originating in Washington has grown by over 50% in the past decade.
- High-tech industries like aerospace, software, and biotechnology account for a significant share of Washington's utility patents.
FAQs
Q: What does this economic trend measure?
A: The 'U.S. Granted Patents: Utility Patents Originating in Washington' series tracks the total number of utility patents granted by the U.S. Patent and Trademark Office that originate from the state of Washington.
Q: Why is this trend relevant for users or analysts?
A: Tracking utility patents by state provides insights into regional innovation trends and the geographic distribution of technological advancement across the United States, which is crucial information for policymakers and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Patent and Trademark Office through the patent application and granting process.
Q: How is this trend used in economic policy?
A: Policymakers and economic analysts use this data to assess the innovation capacity and competitiveness of individual U.S. states, which can inform economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is published with a lag, and there may be revisions to historical figures as the patent application and granting process evolves.
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Citation
U.S. Federal Reserve, U.S. Granted Patents: Utility Patents Originating in Washington (PATENTUSWAUTILITY), retrieved from FRED.