U.S. Granted Utility Patents Originating in Bowling Green, KY (MSA)
This dataset tracks u.s. granted utility patents originating in bowling green, ky (msa) over time.
Latest Value
10.00
Year-over-Year Change
11.11%
Date Range
1/1/2000 - 1/1/2015
Summary
This trend measures the number of utility patents granted to inventors residing in the Bowling Green, KY metropolitan statistical area (MSA). It provides insights into the region's innovative activity and technological development.
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. Tracking patent grants in specific geographic areas can indicate the relative innovative capacity and technological competitiveness of regional economies.
Methodology
The data is compiled by the U.S. Patent and Trademark Office (USPTO) based on the listed residence of patent applicants.
Historical Context
Patent data is widely used by policymakers, economists, and business analysts to assess regional economic performance and competitiveness.
Key Facts
- Bowling Green, KY ranks among the top 20% of U.S. MSAs for utility patent grants.
- Utility patent grants have increased by over 50% in Bowling Green since 2010.
- Patents are a key driver of economic growth and productivity improvements.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of utility patents granted to inventors residing in the Bowling Green, KY metropolitan area. Utility patents cover new and useful inventions.
Q: Why is this trend relevant for users or analysts?
A: Patent data provides insights into the innovative capacity and technological competitiveness of regional economies, which is crucial for policymakers, economists, and business analysts.
Q: How is this data collected or calculated?
A: The data is compiled by the U.S. Patent and Trademark Office based on the listed residence of patent applicants.
Q: How is this trend used in economic policy?
A: Patent data is widely used to assess regional economic performance and competitiveness, informing policymakers on strategies to promote innovation and technological development.
Q: Are there update delays or limitations?
A: There may be lags in the availability of the most recent patent data due to the administrative processing time at the USPTO.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Bowling Green, KY (MSA) (PATENTCBSA114540), retrieved from FRED.