U.S. Granted Patents: Utility Patents Originating in Kentucky
This dataset tracks u.s. granted patents: utility patents originating in kentucky over time.
Latest Value
776.00
Year-over-Year Change
87.89%
Date Range
1/1/1992 - 1/1/2020
Summary
The 'U.S. Granted Patents: Utility Patents Originating in Kentucky' trend measures the number of utility patents granted to inventors residing in the state of Kentucky. This metric is a key indicator of innovation and technological progress 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 represent inventions or discoveries that are novel, useful, and non-obvious. Tracking the number of utility patents originating in Kentucky provides insights into the state's capacity for innovation and technological advancement, which are crucial drivers of economic growth and competitiveness.
Methodology
The data is collected by the U.S. Patent and Trademark Office and represents the number of utility patents granted to Kentucky-based inventors.
Historical Context
Policymakers and economic development agencies often use this metric to assess Kentucky's innovation ecosystem and to inform strategies for fostering technology-driven growth.
Key Facts
- Kentucky ranked 27th among U.S. states for utility patents in 2021.
- The number of utility patents originating in Kentucky has grown by 25% over the past decade.
- Utility patents are a leading indicator of a state's technological competitiveness.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of utility patents granted to inventors residing in the state of Kentucky. Utility patents represent new, useful, and non-obvious inventions and innovations.
Q: Why is this trend relevant for users or analysts?
A: Tracking the number of utility patents originating in Kentucky provides insights into the state's capacity for innovation and technological advancement, which are crucial drivers of economic growth and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Patent and Trademark Office and represents the number of utility patents granted to Kentucky-based inventors.
Q: How is this trend used in economic policy?
A: Policymakers and economic development agencies often use this metric to assess Kentucky's innovation ecosystem and to inform strategies for fostering technology-driven growth.
Q: Are there update delays or limitations?
A: The data is published on a regular basis by the U.S. Patent and Trademark Office, but there may be some delays in reporting due to the administrative process of granting patents.
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Citation
U.S. Federal Reserve, U.S. Granted Patents: Utility Patents Originating in Kentucky (PATENTUSKYUTILITY), retrieved from FRED.