U.S. Granted Patents: Utility Patents Originating in Louisiana
PATENTUSLAUTILITY • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
454.00
Year-over-Year Change
74.62%
Date Range
1/1/1992 - 1/1/2020
Summary
The 'U.S. Granted Patents: Utility Patents Originating in Louisiana' series tracks the number of utility patents granted by the U.S. Patent and Trademark Office that originated from inventors located in Louisiana. This metric is an important 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 new and useful inventions, processes, machines, or compositions of matter. This series provides insight into the volume and rate of technological innovation arising from Louisiana, which can inform economic development strategies and policies aimed at fostering a thriving innovation ecosystem.
Methodology
The data is collected and published by the U.S. Patent and Trademark Office.
Historical Context
Policymakers and economic analysts use this metric to assess Louisiana's technological capabilities and competitiveness relative to other states.
Key Facts
- Louisiana accounted for 1.4% of total U.S. utility patents in 2021.
- Utility patent grants from Louisiana have increased by 31% since 2011.
- The leading technology fields for Louisiana utility patents are chemical, mechanical, and electrical engineering.
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 the state of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the level of technological innovation and economic competitiveness within Louisiana, which is important for policymakers and economic development analysts.
Q: How is this data collected or calculated?
A: The data is collected and published by the U.S. Patent and Trademark Office.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess Louisiana's technological capabilities and competitiveness relative to other states, which can inform economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is published with a lag, and the geographic origin of patents may not fully capture the broader economic impacts of innovation.
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Citation
U.S. Federal Reserve, U.S. Granted Patents: Utility Patents Originating in Louisiana (PATENTUSLAUTILITY), retrieved from FRED.