U.S. Granted Patents: Utility Patents Originating in Massachusetts
This dataset tracks u.s. granted patents: utility patents originating in massachusetts over time.
Latest Value
8176.00
Year-over-Year Change
132.54%
Date Range
1/1/1992 - 1/1/2020
Summary
The 'U.S. Granted Patents: Utility Patents Originating in Massachusetts' series tracks the volume of utility patents granted by the U.S. Patent and Trademark Office to inventors residing in Massachusetts. This metric provides insight into the region's innovative output and technological advancement.
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 intellectual property right granted to new, useful, and non-obvious inventions. The Massachusetts-originated utility patent count serves as a leading indicator of the state's scientific research, engineering capabilities, and entrepreneurial activity.
Methodology
The data is compiled by the U.S. Patent and Trademark Office based on the state of residence of patent applicants.
Historical Context
Policymakers and economists analyze this trend to assess Massachusetts' competitiveness in technology-driven industries and the health of its innovation ecosystem.
Key Facts
- Massachusetts ranks consistently among the top U.S. states for utility patent grants.
- The state's universities and technology companies are hubs of patenting activity.
- Utility patent counts correlate with regional economic growth and job creation.
FAQs
Q: What does this economic trend measure?
A: The 'U.S. Granted Patents: Utility Patents Originating in Massachusetts' series tracks the number of utility patents granted by the U.S. Patent and Trademark Office to inventors residing in the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the innovation output and technological capabilities of Massachusetts, a leading hub of scientific research, engineering, and entrepreneurship in the United States.
Q: How is this data collected or calculated?
A: The data is compiled by the U.S. Patent and Trademark Office based on the state of residence of patent applicants.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this trend to assess Massachusetts' competitiveness in technology-driven industries and the health of its innovation ecosystem.
Q: Are there update delays or limitations?
A: The data is published with a short lag, reflecting the patent application and review process. There may be occasional revisions to historical figures.
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Citation
U.S. Federal Reserve, U.S. Granted Patents: Utility Patents Originating in Massachusetts (PATENTUSMAUTILITY), retrieved from FRED.