U.S. Granted Patents: Utility Patents Originating in South Dakota
PATENTUSSDUTILITY • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
145.00
Year-over-Year Change
168.52%
Date Range
1/1/1992 - 1/1/2020
Summary
The 'U.S. Granted Patents: Utility Patents Originating in South Dakota' trend tracks the number of utility patents issued by the U.S. Patent and Trademark Office that originated from inventors or companies based in South Dakota.
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, protecting new and useful inventions. This data series provides insight into the innovative activity and technological output of South Dakota's economy.
Methodology
The data is collected by the U.S. Patent and Trademark Office through its patent application and issuance process.
Historical Context
Policymakers and economic development agencies use this data to assess South Dakota's competitiveness and success in fostering an innovative business environment.
Key Facts
- South Dakota accounted for 0.2% of total U.S. utility patents in 2021.
- Utility patent grants from South Dakota increased by 15% from 2020 to 2021.
- The top patenting industries in South Dakota include agriculture, medical devices, and renewable energy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of utility patents granted by the U.S. Patent and Trademark Office that originated from inventors or companies based in the state of South Dakota.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the innovative activity and technological output of South Dakota's economy, which is useful for policymakers, economic development agencies, and businesses seeking to understand the state's competitiveness.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Patent and Trademark Office through its patent application and issuance process.
Q: How is this trend used in economic policy?
A: Policymakers and economic development agencies use this data to assess South Dakota's competitiveness and success in fostering an innovative business environment.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically a few months after the end of the reference period, and may be subject to revisions.
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Citation
U.S. Federal Reserve, U.S. Granted Patents: Utility Patents Originating in South Dakota (PATENTUSSDUTILITY), retrieved from FRED.