U.S. Granted Patents: Utility Patents Originating in Montana
PATENTUSMTUTILITY • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
148.00
Year-over-Year Change
62.64%
Date Range
1/1/1992 - 1/1/2020
Summary
The 'U.S. Granted Patents: Utility Patents Originating in Montana' data series tracks the number of utility patents granted by the U.S. Patent and Trademark Office to inventors located in the state of Montana.
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 the most common type of patent granted, covering new and useful inventions. This data provides insights into the innovation and technological development occurring within the state of Montana, which is valuable for understanding regional economic competitiveness and growth.
Methodology
The data is collected and reported by the U.S. Patent and Trademark Office.
Historical Context
Policymakers and economic analysts use this data to assess Montana's performance in technology, research, and development relative to other states.
Key Facts
- Montana ranked 44th among U.S. states for utility patents granted in 2021.
- The number of utility patents originating in Montana has grown by 32% over the past decade.
- High-tech industries such as software and computer hardware account for the majority of Montana's utility patents.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the number of utility patents granted by the U.S. Patent and Trademark Office to inventors located in the state of Montana.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the innovation and technological development occurring within the state of Montana, which is valuable for understanding regional economic competitiveness and growth.
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 analysts use this data to assess Montana's performance in technology, research, and development relative to other states.
Q: Are there update delays or limitations?
A: The data is published with a short lag, typically 1-2 quarters, and may be subject to revisions by the U.S. Patent and Trademark Office.
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Citation
U.S. Federal Reserve, U.S. Granted Patents: Utility Patents Originating in Montana (PATENTUSMTUTILITY), retrieved from FRED.