U.S. Granted Patents: Total Patents Originating in Virginia
PATENTUSVATOTAL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,002.00
Year-over-Year Change
154.41%
Date Range
1/1/1992 - 1/1/2020
Summary
The 'U.S. Granted Patents: Total Patents Originating in Virginia' trend measures the total number of patents granted by the U.S. Patent and Trademark Office that originated from inventors or companies based in the state of Virginia. This metric is an important indicator of innovation and technological activity within the Commonwealth.
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 series tracks the volume of patents granted to Virginia-based entities, which reflects the state's capacity for research, development, and commercialization of new technologies. Policymakers and economists use this data to assess Virginia's competitiveness and potential for future economic growth driven by innovation.
Methodology
The data is collected and compiled by the U.S. Patent and Trademark Office.
Historical Context
The patent trends are closely monitored by government agencies, academic institutions, and private-sector analysts to understand regional innovation patterns and guide economic development strategies.
Key Facts
- Virginia ranks among the top 10 U.S. states for total patents granted.
- The Commonwealth's patent volume has grown steadily over the past decade.
- Major patent-producing industries in Virginia include aerospace, information technology, and life sciences.
FAQs
Q: What does this economic trend measure?
A: The 'U.S. Granted Patents: Total Patents Originating in Virginia' metric tracks the number of patents granted by the U.S. Patent and Trademark Office to inventors or companies based in the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This patent data is an important indicator of Virginia's capacity for innovation, technological development, and future economic growth. Policymakers and economists use this information to assess the state's competitiveness and guide economic development strategies.
Q: How is this data collected or calculated?
A: The data is collected and compiled by the U.S. Patent and Trademark Office, which is responsible for processing and granting patents nationwide.
Q: How is this trend used in economic policy?
A: Patent data is closely monitored by government agencies, academic institutions, and private-sector analysts to understand regional innovation patterns and inform economic development policies and initiatives.
Q: Are there update delays or limitations?
A: The patent data is published with a short lag, typically within a few months of the end of each reporting period. There are no major known limitations to the scope or accuracy of this data series.
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Citation
U.S. Federal Reserve, U.S. Granted Patents: Total Patents Originating in Virginia (PATENTUSVATOTAL), retrieved from FRED.