U.S. Granted Patents: Utility Patents Originating in Indiana
PATENTUSINUTILITY • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,242.00
Year-over-Year Change
127.61%
Date Range
1/1/1992 - 1/1/2020
Summary
The 'U.S. Granted Patents: Utility Patents Originating in Indiana' trend measures the number of utility patents granted by the U.S. Patent and Trademark Office that originated from inventors residing in the state of Indiana. This metric is a key indicator of technological innovation and economic competitiveness within the state.
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. This series tracks the volume of utility patents originating from Indiana, providing insights into the state's capacity for technological development and innovation.
Methodology
The data is collected directly from U.S. Patent and Trademark Office records.
Historical Context
Policymakers and economic analysts use this trend to assess Indiana's competitiveness in research, development, and commercialization of new technologies.
Key Facts
- Indiana ranks among the top 20 states for utility patents originating within its borders.
- The number of utility patents from Indiana has grown by over 50% in the past decade.
- High-tech industries like life sciences, automotive, and advanced manufacturing drive much of Indiana's patenting activity.
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 residing in the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into Indiana's capacity for technological innovation and competitiveness, which are key drivers of economic growth and development.
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 analysts use this trend to assess Indiana's performance in research, development, and commercialization of new technologies, which informs economic development strategies.
Q: Are there update delays or limitations?
A: The data is published with a short lag, typically 1-2 months after the end of the reporting period, and may be subject to minor revisions.
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Citation
U.S. Federal Reserve, U.S. Granted Patents: Utility Patents Originating in Indiana (PATENTUSINUTILITY), retrieved from FRED.