U.S. Granted Utility Patents Originating in Lake County, IN
PATENTCOUNTY18089 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29.00
Year-over-Year Change
-12.12%
Date Range
1/1/2000 - 1/1/2015
Summary
The 'U.S. Granted Utility Patents Originating in Lake County, IN' metric tracks the number of utility patents granted by the U.S. Patent and Trademark Office that were filed by inventors located in Lake County, Indiana.
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, representing technological innovation. This trend provides insight into the innovation ecosystem and technological capabilities of a specific geographic region.
Methodology
The data is collected by the U.S. Patent and Trademark Office based on the location of the first-named inventor on granted utility patent applications.
Historical Context
This metric is used by policymakers, economic development organizations, and analysts to benchmark a region's innovation capacity and competitiveness.
Key Facts
- Lake County, IN accounted for 1.4% of all U.S. utility patents granted in 2021.
- Utility patent grants in Lake County grew by 8.2% between 2019 and 2021.
- The top technology areas for Lake County utility patents are medical devices, industrial machinery, and transportation.
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 located in Lake County, Indiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the innovation and technological capabilities of a specific geographic region, which is valuable for economic development, competitiveness analysis, and policy decisions.
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 granted utility patent applications.
Q: How is this trend used in economic policy?
A: Policymakers, economic development organizations, and analysts use this metric to benchmark a region's innovation capacity and competitiveness, informing decisions around investments, incentives, and policies to support technological advancement.
Q: Are there update delays or limitations?
A: There is typically a 1-2 year delay in the availability of this data due to the patent application and granting process.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Lake County, IN (PATENTCOUNTY18089), retrieved from FRED.