U.S. Granted Patents: Total Patents Originating in Pennsylvania
PATENTUSPATOTAL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,737.00
Year-over-Year Change
66.21%
Date Range
1/1/1992 - 1/1/2020
Summary
The 'U.S. Granted Patents: Total Patents Originating in Pennsylvania' trend measures the total number of patents granted annually to inventors or companies based in Pennsylvania. This metric provides insights into the innovation and technological activity occurring within the state.
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
The 'U.S. Granted Patents: Total Patents Originating in Pennsylvania' series tracks the volume of successful patent applications filed by Pennsylvania-based entities. Patent data is a key economic indicator used to gauge regional competitiveness, technological leadership, and the commercialization of new ideas.
Methodology
The data is collected by the U.S. Patent and Trademark Office, which records and publishes information on all granted patents.
Historical Context
Policymakers and economists monitor patent trends to assess a region's innovation capacity and guide economic development strategies.
Key Facts
- Pennsylvania accounts for over 3% of total U.S. patents granted.
- The number of Pennsylvania patents has grown by 25% over the past decade.
- Life sciences and software are the top patent-generating industries in Pennsylvania.
FAQs
Q: What does this economic trend measure?
A: The 'U.S. Granted Patents: Total Patents Originating in Pennsylvania' trend measures the total number of patents granted annually to inventors or companies based in the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: Patent data is a key indicator of regional innovation and technological competitiveness, making this trend useful for policymakers, economists, and businesses evaluating Pennsylvania's economic performance and development.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Patent and Trademark Office, which records and publishes information on all granted patents.
Q: How is this trend used in economic policy?
A: Policymakers and economic development agencies monitor patent trends to assess a region's innovation capacity and guide strategies to promote entrepreneurship and technological advancement.
Q: Are there update delays or limitations?
A: There is typically a 1-2 year lag in the availability of patent data due to the time required to process and publish the information.
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Citation
U.S. Federal Reserve, U.S. Granted Patents: Total Patents Originating in Pennsylvania (PATENTUSPATOTAL), retrieved from FRED.