U.S. Granted Patents: Plant Patents Originating in Pennsylvania
PATENTUSPAPLANT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13.00
Year-over-Year Change
116.67%
Date Range
1/1/1992 - 1/1/2020
Summary
The 'U.S. Granted Patents: Plant Patents Originating in Pennsylvania' trend measures the number of plant patents issued by the U.S. Patent and Trademark Office that originated from the state of Pennsylvania. This metric is important for economists and policymakers to understand regional innovation and intellectual property creation.
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 tracks the total count of plant patents granted annually that were filed by inventors residing in the state of Pennsylvania. Plant patents protect new and distinct varieties of asexually reproduced plants, which are an important driver of agricultural and botanical innovation.
Methodology
The data is collected by the U.S. Patent and Trademark Office as part of its regular patent application and issuance process.
Historical Context
Trends in plant patenting provide insights into regional innovation and R&D investment in the agricultural sector.
Key Facts
- Pennsylvania ranked 7th among U.S. states for plant patents granted in 2021.
- Plant patents have a 20-year term from the date of filing.
- The U.S. leads the world in total plant patents granted annually.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of plant patents granted annually by the U.S. Patent and Trademark Office that originated from inventors residing in the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: Trends in plant patenting provide insights into regional innovation and investment in agricultural research and development within Pennsylvania.
Q: How is this data collected or calculated?
A: The data is collected directly from the U.S. Patent and Trademark Office's patent application and issuance records.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to assess the competitiveness and innovative capacity of Pennsylvania's agricultural and botanical sectors.
Q: Are there update delays or limitations?
A: There is typically a 1-2 year lag in the availability of this data due to the patent application and issuance process.
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Citation
U.S. Federal Reserve, U.S. Granted Patents: Plant Patents Originating in Pennsylvania (PATENTUSPAPLANT), retrieved from FRED.