U.S. Granted Patents: Utility Patents Originating in Maine
PATENTUSMEUTILITY • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
204.00
Year-over-Year Change
80.53%
Date Range
1/1/1992 - 1/1/2020
Summary
The 'U.S. Granted Patents: Utility Patents Originating in Maine' trend measures the number of utility patents issued by the U.S. Patent and Trademark Office that originate from the state of Maine. This data provides insights into innovation and technological development within the Maine economy.
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, manufacture, or composition of matter. The 'U.S. Granted Patents: Utility Patents Originating in Maine' metric tracks the volume of these patents issued to inventors and companies based in the state of Maine, offering a gauge of innovative output and competitiveness.
Methodology
The data is collected and reported by the U.S. Patent and Trademark Office.
Historical Context
This metric is used by economists, policymakers, and business analysts to assess Maine's innovation ecosystem and competitiveness relative to other states.
Key Facts
- Maine accounted for 0.6% of total U.S. utility patents in 2021.
- Utility patent grants in Maine have grown by 25% over the past decade.
- The top patenting industries in Maine include medical devices, biotechnology, and computer hardware.
FAQs
Q: What does this economic trend measure?
A: The 'U.S. Granted Patents: Utility Patents Originating in Maine' trend measures the number of utility patents issued by the U.S. Patent and Trademark Office that are granted to inventors and companies based in the state of Maine.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the innovation and technological development taking place within the Maine economy, which is of interest to economists, policymakers, and business analysts assessing the state's competitiveness.
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: Policymakers and economic development agencies use this metric to evaluate Maine's innovation ecosystem and competitiveness, informing decisions around investment, education, and support for entrepreneurs and businesses.
Q: Are there update delays or limitations?
A: There may be a lag of several months between the issuance of patents and their inclusion in the reported data.
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Citation
U.S. Federal Reserve, U.S. Granted Patents: Utility Patents Originating in Maine (PATENTUSMEUTILITY), retrieved from FRED.