U.S. Granted Utility Patents Originating in Lansing-East Lansing, MI (MSA)
This dataset tracks u.s. granted utility patents originating in lansing-east lansing, mi (msa) over time.
Latest Value
93.00
Year-over-Year Change
5.68%
Date Range
1/1/2000 - 1/1/2015
Summary
This economic trend measures the number of utility patents granted to inventors originating from the Lansing-East Lansing, MI metropolitan statistical area (MSA). It provides insights into the region's innovation 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 represent inventions or technological improvements that are novel, useful, and non-obvious. Tracking patent grants at the MSA level offers economists a localized view of innovation activity and can inform policies to support research and development.
Methodology
The data is collected by the U.S. Patent and Trademark Office and aggregated by geographic region.
Historical Context
Utility patent trends are closely monitored by policymakers, investors, and economic development agencies.
Key Facts
- Lansing-East Lansing, MI ranks among the top 50 U.S. MSAs for utility patent grants.
- Patents are a leading indicator of technological change and economic competitiveness.
- The Lansing-East Lansing region is home to Michigan State University, a major research institution.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of utility patents granted to inventors originating from the Lansing-East Lansing, MI metropolitan statistical area (MSA).
Q: Why is this trend relevant for users or analysts?
A: Tracking utility patent grants at the MSA level provides insights into the regional innovation and technological development, which are important for policymakers, investors, and economic development agencies.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Patent and Trademark Office and aggregated by geographic region.
Q: How is this trend used in economic policy?
A: Utility patent trends are closely monitored by policymakers to inform policies that support research, development, and innovation at the regional level.
Q: Are there update delays or limitations?
A: There may be lags in the reporting of patent data due to the time required for applications to be processed and approved.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Lansing-East Lansing, MI (MSA) (PATENTCBSA129620), retrieved from FRED.