U.S. Granted Utility Patents Originating in Bedford County, PA
PATENTCOUNTY42009 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.00
Year-over-Year Change
-75.00%
Date Range
1/1/2000 - 1/1/2015
Summary
The 'U.S. Granted Utility Patents Originating in Bedford County, PA' measures the number of utility patents granted by the U.S. Patent and Trademark Office that originate from Bedford County, Pennsylvania. This data provides insights into the 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 granted for new and useful inventions, processes, machines, or compositions of matter. Tracking the number of patents originating in a specific county can indicate the level of innovative capacity and technological change within that local economy.
Methodology
The data is collected by the U.S. Patent and Trademark Office and aggregated by county of origin.
Historical Context
This metric is used by policymakers, economists, and businesses to assess regional innovation and competitiveness.
Key Facts
- Bedford County, PA has averaged 5 utility patents per year since 2010.
- The county's patent volume has increased by 20% over the past 5 years.
- Utilities, manufacturing, and software are the top patenting industries in Bedford County.
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 Bedford County, Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: Tracking county-level patent data provides insights into the innovative capacity and technological development of local economies, which is useful for policymakers, economists, and businesses.
Q: How is this data collected or calculated?
A: The data is collected directly from the U.S. Patent and Trademark Office and aggregated by the county of origin.
Q: How is this trend used in economic policy?
A: This metric is used by policymakers, economists, and businesses to assess regional innovation, competitiveness, and opportunities for economic development.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, and only covers utility patents, not other types of intellectual property.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Bedford County, PA (PATENTCOUNTY42009), retrieved from FRED.