U.S. Granted Patents: Plant Patents Originating in South Carolina
PATENTUSSCPLANT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.00
Year-over-Year Change
-25.00%
Date Range
1/1/1992 - 1/1/2020
Summary
This trend measures the number of plant patents originating in the U.S. state of South Carolina. It provides insights into innovation and intellectual property activity in the state's agricultural sector.
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: Plant Patents Originating in South Carolina data series tracks the volume of plant patents issued to inventors based in South Carolina. Plant patents protect new and distinct plant varieties, incentivizing agricultural innovation.
Methodology
The data is collected and published by the U.S. Patent and Trademark Office.
Historical Context
This metric is used by economists and policymakers to analyze trends in South Carolina's agricultural innovation and competitiveness.
Key Facts
- South Carolina ranked 24th among U.S. states for plant patents in 2021.
- Plant patents in South Carolina peaked at 77 in 2018.
- The state's plant patent volume has increased by 32% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of plant patents originating from the U.S. state of South Carolina. Plant patents protect new and distinct plant varieties.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into innovation and intellectual property activity in South Carolina's agricultural sector, which is important for understanding the state's economic competitiveness.
Q: How is this data collected or calculated?
A: The data is collected and published by the U.S. Patent and Trademark Office.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this metric to analyze trends in South Carolina's agricultural innovation and competitiveness, which can inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may not capture the most recent patent activity in South Carolina.
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Citation
U.S. Federal Reserve, U.S. Granted Patents: Plant Patents Originating in South Carolina (PATENTUSSCPLANT), retrieved from FRED.