Innovation
Patents Granted
Description: Considerably less than half of patent applications result in a patent granted. Patents typically are granted at least two years after the application. The number of patent applications is included as an input to innovation, in the research and development subcategory.
Many patent applications list more than one inventor. The geographic allocation of a patent granted is determined by the residence of the first-named inventor at the time of the grant. The numbers of patents granted to Arizonans, and the number per 100,000 residents, are presented on the dashboard. Only “utility” patents, also known as “patents for inventions,” are included.
Rationale: Inventive activity is a proxy for the quality of the innovation environment. Innovation requires both ability and creativity. Thus, the number of patents granted is one measure of a region’s ability to innovate. Regions where companies, universities, and individuals are engaged in innovation should have more patents granted.
Data Source: U.S. Patent and Trademark Office http://www.uspto.gov/web/offices/ac/ido/oeip/taf/cst_utl.pdf.
Comments on the Quality of the Data: The geographic distribution of patents could be different if the residence of all inventors was considered. A simple count of number of patents granted does not distinguish between patents with considerable near-term commercialization potential and those with more nebulous marketability.
