U.S. Granted Patents: Utility Patents Originating in Rhode Island
This dataset tracks u.s. granted patents: utility patents originating in rhode island over time.
Latest Value
407.00
Year-over-Year Change
86.70%
Date Range
1/1/1992 - 1/1/2020
Summary
The 'U.S. Granted Patents: Utility Patents Originating in Rhode Island' metric tracks the number of utility patents issued by the U.S. Patent and Trademark Office that originate from inventors and companies based in Rhode Island.
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 the most common type of patent granted in the United States, covering new and useful inventions, processes, and technologies. This metric provides insight into the innovation and entrepreneurial activity within Rhode Island's economy.
Methodology
The data is collected and reported by the U.S. Patent and Trademark Office.
Historical Context
Trends in utility patents can indicate the competitiveness and technological capabilities of a regional economy.
Key Facts
- Rhode Island ranked 31st among U.S. states for utility patents in 2021.
- The number of utility patents originating in Rhode Island has grown by 24% over the past decade.
- The top patenting industries in Rhode Island include medical devices, software, and aerospace.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the number of utility patents, a key indicator of innovation, that are granted to inventors and companies based in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: Trends in utility patents provide insights into the technological capabilities and entrepreneurial activity within Rhode Island's economy, which is valuable information for policymakers, investors, and economic development professionals.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Patent and Trademark Office, which tracks all utility patents granted in the United States.
Q: How is this trend used in economic policy?
A: Utility patent data is used by policymakers and economic development agencies to assess the competitiveness and innovative potential of regional economies, informing decisions around investment, workforce development, and support for research and entrepreneurship.
Q: Are there update delays or limitations?
A: The utility patent data is published with a lag of several months, so the most recent figures may not reflect the current state of innovation in Rhode Island. Additionally, the data only captures patents originating within the state and does not account for patents held by Rhode Island-based entities but filed elsewhere.
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Citation
U.S. Federal Reserve, U.S. Granted Patents: Utility Patents Originating in Rhode Island (PATENTUSRIUTILITY), retrieved from FRED.