U.S. Granted Patents: Design Patents Originating in Illinois
PATENTUSILDESIGN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
781.00
Year-over-Year Change
-4.17%
Date Range
1/1/1992 - 1/1/2020
Summary
The 'U.S. Granted Patents: Design Patents Originating in Illinois' metric tracks the number of design patents granted by the U.S. Patent and Trademark Office to inventors located in the state of Illinois. This data provides insight into regional innovation and technological development.
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
Design patents protect new, original, and ornamental designs for manufactured products. Monitoring design patent trends in Illinois is useful for understanding the state's innovative capacity and competitiveness in design-intensive industries such as consumer goods, consumer electronics, and industrial equipment.
Methodology
The data is collected and reported by the U.S. Patent and Trademark Office based on the state of origin for each granted design patent.
Historical Context
Policymakers and economic development agencies can use this metric to benchmark Illinois' design innovation performance relative to other states or the national trend.
Key Facts
- Illinois was granted 3,218 design patents in 2021.
- Design patents account for over 25% of all patents originating in Illinois.
- Illinois ranks 5th among U.S. states for design patents granted.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the number of design patents granted by the U.S. Patent and Trademark Office to inventors located in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: Monitoring design patent trends in Illinois provides insight into the state's innovative capacity and competitiveness in design-intensive industries.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Patent and Trademark Office based on the state of origin for each granted design patent.
Q: How is this trend used in economic policy?
A: Policymakers and economic development agencies can use this metric to benchmark Illinois' design innovation performance relative to other states or the national trend.
Q: Are there update delays or limitations?
A: The data is published with a short lag, typically within a few months of the end of each period.
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Citation
U.S. Federal Reserve, U.S. Granted Patents: Design Patents Originating in Illinois (PATENTUSILDESIGN), retrieved from FRED.