U.S. Granted Utility Patents Originating in Somerset County, NJ
PATENTCOUNTY34035 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
553.00
Year-over-Year Change
32.61%
Date Range
1/1/2000 - 1/1/2015
Summary
The 'U.S. Granted Utility Patents Originating in Somerset County, NJ' tracks the number of utility patents granted by the U.S. Patent and Trademark Office that were filed by inventors residing in Somerset County, New Jersey.
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 a specific geographic region. It is used by policymakers, economists, and market analysts to assess the entrepreneurial climate and competitiveness of a local economy.
Methodology
The data is collected and reported by the U.S. Patent and Trademark Office.
Historical Context
This metric informs discussions around regional economic policy, investment, and technological progress.
Key Facts
- Somerset County, NJ is a hub for pharmaceutical and life sciences R&D.
- Patent filings in the county have grown by over 20% in the past decade.
- The region ranks among the top 10% of U.S. counties for patents per capita.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the number of utility patents granted by the U.S. Patent and Trademark Office that were filed by inventors residing in Somerset County, New Jersey.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the innovative activity and technological development occurring within a specific geographic region, informing discussions around regional economic policy, investment, and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Patent and Trademark Office.
Q: How is this trend used in economic policy?
A: This indicator is used by policymakers, economists, and market analysts to assess the entrepreneurial climate and technological progress of a local economy.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months by the U.S. Patent and Trademark Office.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Somerset County, NJ (PATENTCOUNTY34035), retrieved from FRED.