U.S. Granted Utility Patents Originating in Palm Beach County, FL
PATENTCOUNTY12099 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
539.00
Year-over-Year Change
70.57%
Date Range
1/1/2000 - 1/1/2015
Summary
The 'U.S. Granted Utility Patents Originating in Palm Beach County, FL' series measures the number of utility patents granted by the U.S. Patent and Trademark Office that originated from inventors located in Palm Beach County, Florida.
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
This economic indicator provides insight into the innovative activity and technological development occurring within Palm Beach County. It is used by policymakers, researchers, and businesses to assess the region's competitiveness and capacity for producing patentable inventions.
Methodology
The data is collected by the U.S. Patent and Trademark Office and aggregated by county of inventor residence.
Historical Context
This metric is relevant for understanding regional economic trends and the role of innovation in local economic growth.
Key Facts
- Palm Beach County, FL ranks among the top 20 U.S. counties for utility patents granted.
- The number of patents originating in Palm Beach County has grown by over 50% in the past decade.
- Key industries driving patent activity in the county include life sciences, aerospace, and information technology.
FAQs
Q: What does this economic trend measure?
A: This series measures the number of utility patents granted by the U.S. Patent and Trademark Office that originated from inventors located in Palm Beach County, Florida.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the innovative capacity and technological development occurring within the Palm Beach County region, which is relevant for understanding local economic competitiveness and growth.
Q: How is this data collected or calculated?
A: The data is collected directly by the U.S. Patent and Trademark Office and aggregated by the county of inventor residence.
Q: How is this trend used in economic policy?
A: Policymakers and economic development agencies can use this metric to assess a region's innovation ecosystem and inform strategies to support technological advancement and commercial application of new inventions.
Q: Are there update delays or limitations?
A: There is typically a 1-2 year lag in the reporting of patent data due to the time required for application, review, and issuance by the U.S. Patent and Trademark Office.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Palm Beach County, FL (PATENTCOUNTY12099), retrieved from FRED.