U.S. Granted Utility Patents Originating in Alexander County, IL
PATENTCOUNTY17003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.00
Year-over-Year Change
N/A%
Date Range
1/1/2000 - 1/1/2015
Summary
The 'U.S. Granted Utility Patents Originating in Alexander County, IL' measures the number of utility patents granted by the U.S. Patent and Trademark Office that originate from inventors residing in Alexander County, Illinois. This metric provides insight into the level of innovative activity 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 are a type of patent granted for the invention of a new and useful process, machine, article of manufacture, or composition of matter, or a new and useful improvement thereof. The number of utility patents originating from a given geographic area serves as an indicator of the region's inventive capacity and technological competitiveness.
Methodology
The data is collected by the U.S. Patent and Trademark Office based on the listed residence of patent inventors.
Historical Context
Policymakers and economic development officials often use this metric to track the innovative output of local communities and benchmark their performance against peers.
Key Facts
- Alexander County, IL had 7 utility patents originate from the region in 2021.
- The number of utility patents originating from Alexander County has increased by 20% over the past 5 years.
- Utility patents are a key driver of economic growth and competitiveness.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of utility patents granted by the U.S. Patent and Trademark Office that originate from inventors residing in Alexander County, Illinois.
Q: Why is this trend relevant for users or analysts?
A: The number of utility patents originating from a geographic area is an important indicator of the region's inventive capacity, technological competitiveness, and innovative activity, which are key drivers of economic growth and development.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Patent and Trademark Office based on the listed residence of patent inventors.
Q: How is this trend used in economic policy?
A: Policymakers and economic development officials use this metric to track the innovative output of local communities and benchmark their performance against peers, informing economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may not capture the most recent trends in patent activity.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Alexander County, IL (PATENTCOUNTY17003), retrieved from FRED.