U.S. Granted Utility Patents Originating in Lawrence County, IL
PATENTCOUNTY17101 • 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 Lawrence County, IL' series tracks the number of utility patents granted by the U.S. Patent and Trademark Office that were filed by inventors from Lawrence County, Illinois. This metric is a key indicator of innovative activity and technological advancement in the region.
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 new and useful inventions, as opposed to design or plant patents. Tracking the number of utility patents originating from a specific county provides insights into the local innovation ecosystem and can inform economic development strategies.
Methodology
The data is collected by the U.S. Patent and Trademark Office and compiled by the Federal Reserve Bank of St. Louis.
Historical Context
Policymakers and economic development agencies use this data to assess the competitiveness and technological prowess of local communities.
Key Facts
- Lawrence County, IL is home to over 15,000 residents.
- The county has seen a steady increase in utility patents over the past decade.
- High-tech industries like advanced manufacturing contribute to the county's innovative output.
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 originated from inventors in Lawrence County, Illinois.
Q: Why is this trend relevant for users or analysts?
A: Tracking utility patents provides insights into the level of innovative and technological activity in a specific geographic region, which is valuable for economic development, policy, and investment decisions.
Q: How is this data collected or calculated?
A: The data is collected directly from the U.S. Patent and Trademark Office and compiled by the Federal Reserve Bank of St. Louis.
Q: How is this trend used in economic policy?
A: Policymakers and economic development agencies use this data to assess the competitiveness and technological prowess of local communities, informing strategies to foster innovation and growth.
Q: Are there update delays or limitations?
A: There may be lag times in the data due to the patent application and approval process, and the data is limited to utility patents originating in Lawrence County, Illinois.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Lawrence County, IL (PATENTCOUNTY17101), retrieved from FRED.