U.S. Granted Utility Patents Originating in Cook County, IL
PATENTCOUNTY17031 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,636.00
Year-over-Year Change
55.81%
Date Range
1/1/2000 - 1/1/2015
Summary
This economic trend measures the number of utility patents granted by the U.S. Patent and Trademark Office that originate in Cook County, Illinois. It provides insight into the innovative activity and technological development in the Chicago metropolitan area.
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 the most common type of patent granted, covering new and useful inventions, processes, or machines. Tracking the number of utility patents originating in specific geographic areas helps economists and policymakers understand the distribution and concentration of innovative activity across the United States.
Methodology
The data is collected by the U.S. Patent and Trademark Office based on the location of the first-named inventor on each granted utility patent.
Historical Context
This trend is used to assess the competitiveness and technological leadership of different regional economies.
Key Facts
- Cook County is home to the city of Chicago, a major hub of innovation and technology.
- Utility patents cover a wide range of inventions, from consumer products to industrial processes.
- The number of utility patents originating in a region is a key indicator of its economic 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 in Cook County, Illinois.
Q: Why is this trend relevant for users or analysts?
A: Tracking utility patents by geographic origin provides insights into the distribution and concentration of innovative activity across different regions, which is important for understanding economic competitiveness and technological leadership.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Patent and Trademark Office based on the location of the first-named inventor on each granted utility patent.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and regional development analysts to assess the competitiveness and technological capabilities of different metropolitan areas and inform economic policies and investments.
Q: Are there update delays or limitations?
A: The data is subject to the typical processing and reporting timelines of the U.S. Patent and Trademark Office, which may result in some delay between the granting of a patent and its inclusion in this data series.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Cook County, IL (PATENTCOUNTY17031), retrieved from FRED.