U.S. Granted Patents: Total Patents Originating in Maryland
This dataset tracks u.s. granted patents: total patents originating in maryland over time.
Latest Value
2482.00
Year-over-Year Change
73.93%
Date Range
1/1/1992 - 1/1/2020
Summary
The 'U.S. Granted Patents: Total Patents Originating in Maryland' trend tracks the total number of patents granted to inventors from the state of Maryland. This metric provides insight into the innovative activity and technological development 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
This series measures the total count of patents originating from the state of Maryland that have been approved by the United States Patent and Trademark Office. It serves as an indicator of the inventiveness and technological progress occurring in Maryland's private sector, academia, and research institutions.
Methodology
The data is collected by the U.S. Patent and Trademark Office based on the state of origin for each granted patent.
Historical Context
Policymakers and economic analysts use this trend to assess Maryland's competitiveness in innovation and technological advancement relative to other states.
Key Facts
- Maryland ranked 10th among U.S. states for total patents granted in 2021.
- The number of patents originating in Maryland has grown by 25% over the past decade.
- Biotechnology and computer technology account for the largest shares of Maryland's patented innovations.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of patents granted to inventors and innovators based in the state of Maryland by the U.S. Patent and Trademark Office.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the innovative capacity and technological development occurring within Maryland's economy, which is important for assessing the state's economic competitiveness and growth potential.
Q: How is this data collected or calculated?
A: The data is collected directly from the records of the U.S. Patent and Trademark Office, which tracks the state of origin for each granted patent.
Q: How is this trend used in economic policy?
A: Policymakers and economic analysts use this trend to evaluate Maryland's performance in fostering innovation, commercializing new technologies, and supporting research and development activities within the state.
Q: Are there update delays or limitations?
A: There can be a 6-12 month lag in the reporting of patent data due to the time required for application review and approval by the USPTO.
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Citation
U.S. Federal Reserve, U.S. Granted Patents: Total Patents Originating in Maryland (PATENTUSMDTOTAL), retrieved from FRED.