U.S. Granted Patents: Total Patents Originating in West Virginia
This dataset tracks u.s. granted patents: total patents originating in west virginia over time.
Latest Value
134.00
Year-over-Year Change
47.25%
Date Range
1/1/1992 - 1/1/2020
Summary
The 'U.S. Granted Patents: Total Patents Originating in West Virginia' trend measures the total number of patents granted annually to inventors and organizations based in the state of West Virginia. This provides insight into West Virginia's innovation and technology development activity.
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 total number of patents issued by the U.S. Patent and Trademark Office that list a West Virginia-based individual or organization as the applicant. It serves as an indicator of technological innovation and research and development in the state.
Methodology
The data is collected by the U.S. Patent and Trademark Office and made available through the Federal Reserve Economic Data (FRED) portal.
Historical Context
Patent data is widely used by policymakers, economists, and industry analysts to assess a region's scientific and technological competitiveness.
Key Facts
- West Virginia accounts for less than 1% of total U.S. patents granted.
- Patent activity in West Virginia has been relatively flat over the past decade.
- The state's patent counts are well below the national average on a per capita basis.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of patents granted annually by the U.S. Patent and Trademark Office to inventors and organizations based in the state of West Virginia.
Q: Why is this trend relevant for users or analysts?
A: Patent data provides insight into a region's innovation and technological competitiveness, which is important for policymakers, economists, and industry analysts.
Q: How is this data collected or calculated?
A: The data is collected directly from the U.S. Patent and Trademark Office and made available through the Federal Reserve Economic Data (FRED) portal.
Q: How is this trend used in economic policy?
A: Patent data is used by policymakers and economists to assess a state's scientific and technological capabilities, which can inform economic development strategies and investments.
Q: Are there update delays or limitations?
A: There can be a lag of several months between when patents are granted and when the data is published in FRED.
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Citation
U.S. Federal Reserve, U.S. Granted Patents: Total Patents Originating in West Virginia (PATENTUSWVTOTAL), retrieved from FRED.