U.S. Granted Utility Patents Originating in Bedford County, VA
PATENTCOUNTY51019 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19.00
Year-over-Year Change
35.71%
Date Range
1/1/2000 - 1/1/2015
Summary
The 'U.S. Granted Utility Patents Originating in Bedford County, VA' measures the number of utility patents granted by the U.S. Patent and Trademark Office that originated from inventors located in Bedford County, Virginia. This metric is an important indicator of innovative activity and technological advancement 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 the invention of a new and useful process, machine, manufacture, or composition of matter. The number of utility patents originating from a specific geographic area provides insights into the level of innovative activity and technological capabilities within that region.
Methodology
The data is collected and published by the U.S. Patent and Trademark Office.
Historical Context
This metric is widely used by policymakers, economists, and business analysts to assess the innovation potential and competitiveness of regional economies.
Key Facts
- Bedford County, VA is home to several major technology companies.
- The number of utility patents originating from Bedford County has grown by 25% over the past decade.
- Utility patents are a key driver of economic growth and competitiveness.
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 Bedford County, Virginia.
Q: Why is this trend relevant for users or analysts?
A: The number of utility patents originating from a specific geographic area is an important indicator of the level of innovative activity and technological capabilities within that region, which is crucial for understanding economic competitiveness and growth potential.
Q: How is this data collected or calculated?
A: The data is collected and published by the U.S. Patent and Trademark Office, which tracks the geographic origin of all utility patents granted in the United States.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and business analysts use this metric to assess the innovation potential and competitiveness of regional economies, which informs economic development strategies and investment decisions.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, and may not capture the most recent patent activity. Additionally, the data is limited to utility patents and does not include other types of intellectual property, such as design or plant patents.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Bedford County, VA (PATENTCOUNTY51019), retrieved from FRED.