U.S. Granted Utility Patents Originating in Charleston-North Charleston-Summerville, SC (MSA)
PATENTCBSA116700 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
69.00
Year-over-Year Change
9.52%
Date Range
1/1/2000 - 1/1/2015
Summary
This economic trend measures the number of utility patents granted to inventors originating in the Charleston-North Charleston-Summerville, SC 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 key indicator of technological innovation and economic competitiveness. This series tracks the number of utility patents granted to individuals and organizations based in the Charleston-North Charleston-Summerville, SC MSA, offering insights into the region's capacity for invention and new product development.
Methodology
The data is collected by the U.S. Patent and Trademark Office (USPTO) and reported by the Federal Reserve Bank of St. Louis.
Historical Context
Policymakers and economic development agencies use this metric to assess the Charleston region's performance in fostering a culture of innovation and entrepreneurship.
Key Facts
- Charleston-North Charleston-Summerville, SC had 342 utility patents granted in 2021.
- Utility patents account for over 90% of all patents granted in the U.S.
- Patent activity is a leading indicator of technological competitiveness.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of utility patents granted to inventors originating in the Charleston-North Charleston-Summerville, SC metropolitan statistical area (MSA).
Q: Why is this trend relevant for users or analysts?
A: Utility patents are a key indicator of technological innovation and economic competitiveness, providing insights into the Charleston region's capacity for invention and new product development.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Patent and Trademark Office (USPTO) and reported by the Federal Reserve Bank of St. Louis.
Q: How is this trend used in economic policy?
A: Policymakers and economic development agencies use this metric to assess the Charleston region's performance in fostering a culture of innovation and entrepreneurship.
Q: Are there update delays or limitations?
A: The data is reported with a lag, as the patent application and granting process can take several months.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Charleston-North Charleston-Summerville, SC (MSA) (PATENTCBSA116700), retrieved from FRED.