U.S. Granted Utility Patents Originating in Berkeley County, SC
PATENTCOUNTY45015 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15.00
Year-over-Year Change
66.67%
Date Range
1/1/2000 - 1/1/2015
Summary
The 'U.S. Granted Utility Patents Originating in Berkeley County, SC' series tracks the number of utility patents granted by the U.S. Patent and Trademark Office that originated from Berkeley County, South Carolina. This metric is an important indicator of innovation and technological activity 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, processes, machines, or compositions of matter. The number of utility patents originating from a specific county provides insight into the local innovation ecosystem and can inform economic development strategies.
Methodology
The data is collected directly from U.S. Patent and Trademark Office records.
Historical Context
Policymakers and economic development organizations use this data to benchmark and track the innovative capacity of local communities.
Key Facts
- Berkeley County, SC is home to major technology and manufacturing companies.
- Patent activity is considered a leading indicator of future economic growth.
- The U.S. issued over 350,000 utility patents in 2021.
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 Berkeley County, South Carolina.
Q: Why is this trend relevant for users or analysts?
A: The number of utility patents originating from a local area provides insight into the innovative capacity and technological activity of that region, which is crucial for economic development and policymaking.
Q: How is this data collected or calculated?
A: The data is collected directly from U.S. Patent and Trademark Office records.
Q: How is this trend used in economic policy?
A: Policymakers and economic development organizations use this data to benchmark and track the innovative capacity of local communities, which informs strategies for attracting investment and supporting entrepreneurship.
Q: Are there update delays or limitations?
A: The data is published with a short lag, typically 1-2 months behind the current period, due to the administrative process of granting patents.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Berkeley County, SC (PATENTCOUNTY45015), retrieved from FRED.