U.S. Granted Patents: Utility Patents Originating in Wyoming
PATENTUSWYUTILITY • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
147.00
Year-over-Year Change
320.00%
Date Range
1/1/1992 - 1/1/2020
Summary
The 'U.S. Granted Patents: Utility Patents Originating in Wyoming' trend measures the number of utility patents granted by the U.S. Patent and Trademark Office that originate from the state of Wyoming. This metric is an important indicator of technological innovation and entrepreneurial activity within the state.
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 a type of patent granted for the invention of a new and useful process, machine, manufacture, or composition of matter. This series tracks the volume of utility patents granted to inventors based in Wyoming, providing insight into the state's technological capabilities and innovative output.
Methodology
The data is collected and reported by the U.S. Patent and Trademark Office.
Historical Context
Policymakers and economic development agencies use this metric to assess Wyoming's competitiveness in science, technology, and entrepreneurship relative to other states.
Key Facts
- Wyoming ranked 50th among U.S. states for utility patents granted in 2021.
- The number of utility patents originating in Wyoming has increased by 25% over the past decade.
- High-tech industries account for the majority of utility patents granted to Wyoming-based inventors.
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 originate from the state of Wyoming.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the level of technological innovation and entrepreneurial activity occurring within Wyoming, which is relevant for policymakers, economic development agencies, and analysts tracking a state's economic competitiveness.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Patent and Trademark Office.
Q: How is this trend used in economic policy?
A: Policymakers and economic development agencies use this metric to assess Wyoming's competitiveness in science, technology, and entrepreneurship relative to other states, and to inform policy decisions aimed at fostering innovation and business growth.
Q: Are there update delays or limitations?
A: There may be a several-month delay in the reporting of this data due to the patent application and review process.
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Citation
U.S. Federal Reserve, U.S. Granted Patents: Utility Patents Originating in Wyoming (PATENTUSWYUTILITY), retrieved from FRED.