U.S. Granted Utility Patents Originating in Canton-Massillon, OH (MSA)
PATENTCBSA115940 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
121.00
Year-over-Year Change
-11.03%
Date Range
1/1/2000 - 1/1/2015
Summary
This economic trend measures the number of utility patents granted to inventors originating in the Canton-Massillon, OH metropolitan statistical area. Utility patents are a key indicator of innovation and technological progress in a regional 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
The U.S. Granted Utility Patents Originating in Canton-Massillon, OH (MSA) series tracks the volume of successful patent applications filed by individuals and organizations located within this specific metropolitan region. Patents are a legal form of intellectual property protection and a widely used metric of innovative capacity.
Methodology
The data is collected by the U.S. Patent and Trademark Office and aggregated by metropolitan statistical area.
Historical Context
Policymakers and regional economists use this metric to assess the innovation ecosystem and technological competitiveness of the Canton-Massillon economy.
Key Facts
- Canton-Massillon, OH is home to over 700,000 residents.
- The region averages around 200 utility patents per year.
- Patents provide legal protection for new inventions and discoveries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of utility patents granted to inventors and organizations located in the Canton-Massillon, OH metropolitan statistical area.
Q: Why is this trend relevant for users or analysts?
A: Utility patents are a key indicator of innovation and technological progress in a regional economy, making this metric relevant for policymakers, economists, and businesses analyzing the competitiveness of the Canton-Massillon area.
Q: How is this data collected or calculated?
A: The data is collected directly from the U.S. Patent and Trademark Office and aggregated by metropolitan statistical area.
Q: How is this trend used in economic policy?
A: Policymakers and regional economists use this patent data to assess the innovation ecosystem and technological competitiveness of the Canton-Massillon economy, informing economic development strategies and investments.
Q: Are there update delays or limitations?
A: There may be a several month lag 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 Canton-Massillon, OH (MSA) (PATENTCBSA115940), retrieved from FRED.