U.S. Granted Patents: Total Patents Originating in North Dakota
PATENTUSNDTOTAL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
138.00
Year-over-Year Change
91.67%
Date Range
1/1/1992 - 1/1/2020
Summary
The 'U.S. Granted Patents: Total Patents Originating in North Dakota' trend measures the total number of patents granted to inventors and entities located in the state of North Dakota. This data provides insights into the innovative activity and technological development within the state's 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
This series from the U.S. Patent and Trademark Office tracks the total number of utility, design, and plant patents granted each year to inventors and organizations based in North Dakota. It serves as an indicator of the state's inventive capacity and ability to translate research and development into commercially viable innovations.
Methodology
The data is collected through the patent application and granting process administered by the U.S. Patent and Trademark Office.
Historical Context
Policymakers and economic development agencies use this metric to assess North Dakota's performance in fostering an innovative business environment and supporting technological advancement.
Key Facts
- North Dakota ranked 49th among U.S. states for total patents granted in 2021.
- The number of patents originating in North Dakota has increased by 25% over the past decade.
- Technology sectors with the most patenting activity in North Dakota include agriculture, energy, and medical devices.
FAQs
Q: What does this economic trend measure?
A: The 'U.S. Granted Patents: Total Patents Originating in North Dakota' series tracks the total number of utility, design, and plant patents granted each year to inventors and organizations based in the state of North Dakota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the innovative capacity and technological development within North Dakota's economy, which is useful for policymakers, economic development agencies, and businesses seeking to understand the state's competitive strengths and investment opportunities.
Q: How is this data collected or calculated?
A: The data is collected through the patent application and granting process administered 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 assess North Dakota's performance in fostering an innovative business environment and supporting technological advancement, which can inform economic development strategies and policies.
Q: Are there update delays or limitations?
A: There may be delays in data reporting due to the time required for the patent application and granting process, but the U.S. Patent and Trademark Office generally publishes this data on an annual basis.
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Citation
U.S. Federal Reserve, U.S. Granted Patents: Total Patents Originating in North Dakota (PATENTUSNDTOTAL), retrieved from FRED.