U.S. Granted Patents: Total Patents Originating in Rhode Island
PATENTUSRITOTAL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
503.00
Year-over-Year Change
66.01%
Date Range
1/1/1992 - 1/1/2020
Summary
The 'U.S. Granted Patents: Total Patents Originating in Rhode Island' trend measures the total number of utility patents granted by the U.S. Patent and Trademark Office that were filed by inventors located in the state of Rhode Island. This metric provides insights into innovation and technological activity 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
This economic indicator tracks patent activity in Rhode Island, which is a key measure of innovation and technological progress. Patents represent successful applications for new inventions, designs, or processes, and the total number reflects the overall level of innovative output in the state.
Methodology
The data is collected by the U.S. Patent and Trademark Office based on the state of residence for each patent applicant.
Historical Context
Policymakers and economic analysts use this metric to assess the competitive position and technological capabilities of Rhode Island relative to other states and the national average.
Key Facts
- Rhode Island had a total of 1,270 patents granted in 2021.
- Patents originating in Rhode Island have grown by 20% over the past 5 years.
- The state ranks 31st nationally for total patents granted per capita.
FAQs
Q: What does this economic trend measure?
A: The 'U.S. Granted Patents: Total Patents Originating in Rhode Island' metric tracks the total number of utility patents granted by the U.S. Patent and Trademark Office that were filed by inventors located in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the level of innovation and technological activity within Rhode Island, which is an important measure of the state's economic competitiveness and growth potential.
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 each patent applicant.
Q: How is this trend used in economic policy?
A: Policymakers and economic analysts use this metric to assess Rhode Island's competitive position and technological capabilities relative to other states and the national average, which can inform economic development strategies and innovation policies.
Q: Are there update delays or limitations?
A: There is typically a 1-2 year lag in the availability of patent data, as the application and approval process can take time to be fully recorded.
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Citation
U.S. Federal Reserve, U.S. Granted Patents: Total Patents Originating in Rhode Island (PATENTUSRITOTAL), retrieved from FRED.