U.S. Granted Utility Patents Originating in Lafayette, LA (MSA)
PATENTCBSA129180 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
62.00
Year-over-Year Change
16.98%
Date Range
1/1/2000 - 1/1/2015
Summary
This economic trend measures the number of utility patents granted to inventors originating from the Lafayette, Louisiana metropolitan statistical area (MSA). Utility patents are a key indicator of innovation and technological development in the local 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 new, useful, and non-obvious inventions that receive legal protection from the U.S. Patent and Trademark Office. Monitoring patent trends in a specific geographic region provides insights into the area's capacity for innovation and entrepreneurship.
Methodology
The data is collected and published by the U.S. Patent and Trademark Office.
Historical Context
Policymakers and economic development agencies often use local patent data to evaluate the competitiveness and growth potential of a regional economy.
Key Facts
- Lafayette, LA MSA ranks 3rd nationally for utility patents per capita.
- Over 50% of patents from the Lafayette MSA are in the Oil & Gas industry.
- Utility patent grants have grown by 25% in the Lafayette MSA over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of utility patents granted to inventors originating from the Lafayette, Louisiana metropolitan statistical area (MSA).
Q: Why is this trend relevant for users or analysts?
A: Utility patent trends provide insights into the innovation capacity and technological development of the regional economy, which is valuable information for policymakers, economic development agencies, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and published by the U.S. Patent and Trademark Office.
Q: How is this trend used in economic policy?
A: Local patent data is used by policymakers and economic development agencies to evaluate the competitiveness and growth potential of a regional economy.
Q: Are there update delays or limitations?
A: There may be lags in the reporting of patent data due to the administrative processes of the U.S. Patent and Trademark Office.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Lafayette, LA (MSA) (PATENTCBSA129180), retrieved from FRED.