Featured Research

from universities, journals, and other organizations

Innovation, patenting fuels economy

Date:
February 8, 2013
Source:
Arizona State University
Summary:
The U.S. patenting rate is higher than ever since the Industrial Revolution, according to a new report. Those cities that saw high patent levels within the last thirty years also yielded the largest increase in gross domestic product (GDP) per worker. Patent growth tends to intensify competition among industries.

Despite economic unease, the U.S. patenting rate is higher than ever since the Industrial Revolution, according to a new report issued by the Brookings Institution Metropolitan Policy Program, in collaboration with Arizona State University (ASU).

According to a previous Brookings Institution report, Phoenix, the sixth largest city in the U.S., ranks 18th out of 358 surveyed metro areas for patenting from 2007 to 2011. In the new report, Tucson placed in the top ten cities with high patent growth and low unemployment rates. The report suggests patent rates are higher in metropolitan areas because they offer knowledge sharing, employment, and research-based universities -- prime environments for inventors.

José Lobo, a sustainability scientist at ASU's Global Institute of Sustainability and associate research professor at ASU's School of Sustainability, co-authored the report, "Patenting Prosperity: Invention and Economic Performance in the United States and its Metropolitan Areas." The report is the first of its kind to analyze patenting trends from 1980 to 2012 on a regional level. The authors compared patent levels to other sources of economic stimuli, such as education, to determine impact.

"A truly sustainable economy -- meaning an economy that is in sync with the community, the people, the environment, and the global marketplace -- depends on sustainable methods and products that give more than they take," says Lobo. "The quality of patents in an area influences how well an economy produces and also how well those inventing new technologies are being utilized in the workforce."

Although the patent system itself is a point of contention, those cities that saw high patent levels within the last thirty years also yielded the largest increase in gross domestic product (GDP) per worker. Patent growth tends to intensify competition among industries. To keep industries in line, the authors suggest targeted reforms to protect startups and prevent patent abuse. Authors of the Brookings report recommend streamlining existing programs and increasing federal support of innovation to improve the patenting process.

Co-authors of the report include Jonathan Rothwell, Brookings associate fellow; Mark Muro, Brookings senior fellow; and Deborah Strumsky, assistant professor, The University of North Carolina at Charlotte.

Full report: www.brookings.edu/about/programs/metro/patenting-prosperity.


Story Source:

The above story is based on materials provided by Arizona State University. Note: Materials may be edited for content and length.


Cite This Page:

Arizona State University. "Innovation, patenting fuels economy." ScienceDaily. ScienceDaily, 8 February 2013. <www.sciencedaily.com/releases/2013/02/130208152709.htm>.
Arizona State University. (2013, February 8). Innovation, patenting fuels economy. ScienceDaily. Retrieved October 20, 2014 from www.sciencedaily.com/releases/2013/02/130208152709.htm
Arizona State University. "Innovation, patenting fuels economy." ScienceDaily. www.sciencedaily.com/releases/2013/02/130208152709.htm (accessed October 20, 2014).

Share This



More Matter & Energy News

Monday, October 20, 2014

Featured Research

from universities, journals, and other organizations


Featured Videos

from AP, Reuters, AFP, and other news services

Gulfstream G500, G600 Unveiling

Gulfstream G500, G600 Unveiling

Flying (Oct. 20, 2014) — Watch Gulfstream's public launch of the G500 and G600 at their headquarters in Savannah, Ga., along with a surprise unveiling of the G500, which taxied up under its own power. Video provided by Flying
Powered by NewsLook.com
Japanese Scientists Unveil Floating 3D Projection

Japanese Scientists Unveil Floating 3D Projection

Reuters - Innovations Video Online (Oct. 20, 2014) — Scientists in Tokyo have demonstrated what they say is the world's first 3D projection that floats in mid air. A laser that fires a pulse up to a thousand times a second superheats molecules in the air, creating a spark which can be guided to certain points in the air to shape what the human eye perceives as an image. Matthew Stock reports. Video provided by Reuters
Powered by NewsLook.com
Hey, Doc! Sewage, Beer and Food Scraps Can Power Chevrolet’s Bi-Fuel Impala

Hey, Doc! Sewage, Beer and Food Scraps Can Power Chevrolet’s Bi-Fuel Impala

3BL Media (Oct. 20, 2014) — Hey, Doc! Sewage, Beer and Food Scraps Can Power Chevrolet’s Bi-fuel Impala Video provided by 3BL
Powered by NewsLook.com
What We Know About Microsoft's Rumored Smartwatch

What We Know About Microsoft's Rumored Smartwatch

Newsy (Oct. 20, 2014) — Microsoft will reportedly release a smartwatch that works across different mobile platforms, has a two-day battery life and tracks heart rate. Video provided by Newsy
Powered by NewsLook.com

Search ScienceDaily

Number of stories in archives: 140,361

Find with keyword(s):
 
Enter a keyword or phrase to search ScienceDaily for related topics and research stories.

Save/Print:
Share:  

Breaking News:

Strange & Offbeat Stories

 

Space & Time

Matter & Energy

Computers & Math

In Other News

... from NewsDaily.com

Science News

Health News

Environment News

Technology News



Save/Print:
Share:  

Free Subscriptions


Get the latest science news with ScienceDaily's free email newsletters, updated daily and weekly. Or view hourly updated newsfeeds in your RSS reader:

Get Social & Mobile


Keep up to date with the latest news from ScienceDaily via social networks and mobile apps:

Have Feedback?


Tell us what you think of ScienceDaily -- we welcome both positive and negative comments. Have any problems using the site? Questions?
Mobile iPhone Android Web
Follow Facebook Twitter Google+
Subscribe RSS Feeds Email Newsletters
Latest Headlines Health & Medicine Mind & Brain Space & Time Matter & Energy Computers & Math Plants & Animals Earth & Climate Fossils & Ruins