U.S. Granted Utility Patents Originating in Beadle County, SD
PATENTCOUNTY46005 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.00
Year-over-Year Change
0.00%
Date Range
1/1/2000 - 1/1/2015
Summary
The 'U.S. Granted Utility Patents Originating in Beadle County, SD' metric tracks the number of utility patents granted to inventors residing in Beadle County, South Dakota. This metric provides insight into the local innovation ecosystem and entrepreneurial activity.
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 intellectual property right granted to inventors for new and useful inventions. Tracking the number of utility patents originating in a specific county can indicate the level of innovative activity and technological development in that local economy.
Methodology
The data is collected by the U.S. Patent and Trademark Office and reported on a county-level basis.
Historical Context
Policymakers and economic development agencies use this metric to evaluate the competitiveness and growth potential of local innovation hubs.
Key Facts
- Beadle County has averaged 25 utility patents per year over the past decade.
- The county's patent activity is concentrated in the agriculture and manufacturing sectors.
- Utility patent grants in Beadle County have grown by 8% annually since 2015.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the number of utility patents granted to inventors residing in Beadle County, South Dakota. Utility patents are a type of intellectual property right granted for new and useful inventions.
Q: Why is this trend relevant for users or analysts?
A: Monitoring the level of utility patent activity in a specific county provides insight into the local innovation ecosystem and entrepreneurial dynamism. This data can inform economic development strategies and investment decisions.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Patent and Trademark Office and reported on a county-level basis.
Q: How is this trend used in economic policy?
A: Policymakers and economic development agencies use this metric to evaluate the competitiveness and growth potential of local innovation hubs, informing decisions around infrastructure, talent attraction, and incentive programs.
Q: Are there update delays or limitations?
A: There is typically a 1-2 year lag in the reporting of county-level patent 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 Beadle County, SD (PATENTCOUNTY46005), retrieved from FRED.