U.S. Granted Patents: Utility Patents Originating in New Jersey
PATENTUSNJUTILITY • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,479.00
Year-over-Year Change
64.55%
Date Range
1/1/1992 - 1/1/2020
Summary
The 'U.S. Granted Patents: Utility Patents Originating in New Jersey' series tracks the number of utility patents granted by the U.S. Patent and Trademark Office that originated from inventors residing in the state of New Jersey.
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 new and useful inventions, processes, machines, or compositions of matter. This series provides insight into the innovative capacity and technological development within the state of New Jersey, which is a major hub for research and development activities.
Methodology
The data is collected by the U.S. Patent and Trademark Office based on the state of residence for patent applicants.
Historical Context
Policymakers and economists use this metric to assess the innovation and competitiveness of the New Jersey economy.
Key Facts
- New Jersey is home to many leading technology and pharmaceutical companies.
- The state has a highly educated workforce and strong university research programs.
- Patent activity is an important indicator of technological advancement and economic growth.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of utility patents granted by the U.S. Patent and Trademark Office that originated from inventors residing in the state of New Jersey.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the innovative capacity and technological development within the state of New Jersey, which is a major hub for research and development activities.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Patent and Trademark Office based on the state of residence for patent applicants.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the innovation and competitiveness of the New Jersey economy.
Q: Are there update delays or limitations?
A: The data is published with a short delay by the U.S. Patent and Trademark Office, and may not capture all patent applications in a timely manner.
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Citation
U.S. Federal Reserve, U.S. Granted Patents: Utility Patents Originating in New Jersey (PATENTUSNJUTILITY), retrieved from FRED.