U.S. Granted Patents: Plant Patents Originating in North Carolina
PATENTUSNCPLANT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11.00
Year-over-Year Change
-38.89%
Date Range
1/1/1992 - 1/1/2020
Summary
The 'U.S. Granted Patents: Plant Patents Originating in North Carolina' trend measures the number of plant patents granted to inventors in North Carolina. This data is an important indicator of innovation and economic activity in the state's agricultural and horticultural sectors.
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
Plant patents protect new plant varieties developed through asexual reproduction, such as cuttings or grafting. The 'U.S. Granted Patents: Plant Patents Originating in North Carolina' series tracks the annual number of these patents awarded to North Carolina-based inventors, providing insight into the state's agricultural research and development efforts.
Methodology
The data is collected and published by the U.S. Patent and Trademark Office.
Historical Context
Policymakers and industry analysts use this trend to gauge North Carolina's competitiveness in plant-based innovation.
Key Facts
- North Carolina ranked 7th among U.S. states for plant patents in 2021.
- Plant patents have increased by 20% in North Carolina over the past decade.
- The state's top patented plant varieties include new fruit, vegetable, and ornamental cultivars.
FAQs
Q: What does this economic trend measure?
A: The 'U.S. Granted Patents: Plant Patents Originating in North Carolina' trend measures the annual number of plant patents awarded to inventors based in the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the level of agricultural and horticultural innovation occurring in North Carolina, which is important for policymakers, industry analysts, and economic development stakeholders.
Q: How is this data collected or calculated?
A: The data is collected and published by the U.S. Patent and Trademark Office, which is responsible for granting plant patents.
Q: How is this trend used in economic policy?
A: Policymakers and economic development agencies use this trend to evaluate North Carolina's competitiveness in plant-based innovation and to inform strategies for supporting the state's agricultural and horticultural sectors.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of several months, so the most recent year's figures may not be immediately available.
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Citation
U.S. Federal Reserve, U.S. Granted Patents: Plant Patents Originating in North Carolina (PATENTUSNCPLANT), retrieved from FRED.