U.S. Granted Patents: Utility Patents Originating in Maryland
PATENTUSMDUTILITY • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,309.00
Year-over-Year Change
87.42%
Date Range
1/1/1992 - 1/1/2020
Summary
The 'U.S. Granted Patents: Utility Patents Originating in Maryland' trend measures the number of utility patents granted by the U.S. Patent and Trademark Office that originate from the state of Maryland. This metric is an important indicator of technological innovation and entrepreneurial activity 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, article of manufacture, or composition of matter, or a new and useful improvement thereof. The 'U.S. Granted Patents: Utility Patents Originating in Maryland' data provides insights into the rate of technological advancement and commercialization of new ideas within the Maryland economy.
Methodology
The data is collected and reported by the U.S. Patent and Trademark Office.
Historical Context
This metric is used by policymakers, economic development agencies, and analysts to benchmark Maryland's innovation capacity relative to other states and monitor trends in technological progress.
Key Facts
- Maryland ranked 10th among U.S. states for utility patents in 2021.
- Utility patents from Maryland accounted for 2.7% of total U.S. utility patents in 2021.
- Patent activity in Maryland has grown by 25% over the past decade.
FAQs
Q: What does this economic trend measure?
A: The 'U.S. Granted Patents: Utility Patents Originating in Maryland' trend measures the number of utility patents granted by the U.S. Patent and Trademark Office that originate from the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the rate of technological advancement and commercialization of new ideas within the Maryland economy, which is an important indicator of innovation and entrepreneurial activity.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Patent and Trademark Office.
Q: How is this trend used in economic policy?
A: This metric is used by policymakers, economic development agencies, and analysts to benchmark Maryland's innovation capacity relative to other states and monitor trends in technological progress.
Q: Are there update delays or limitations?
A: The data is reported on a regular basis by the U.S. Patent and Trademark Office, but there may be some delays in availability due to the time required for processing and reporting.
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Citation
U.S. Federal Reserve, U.S. Granted Patents: Utility Patents Originating in Maryland (PATENTUSMDUTILITY), retrieved from FRED.