Apr 7, 2017, 6:52 PM
Local utility patents spike shows Los Angeles-Orange County tech growth
Utility patents can be hard to come by, and they certainly aren’t inexpensive. But for tech companies looking to push innovation, they’re essential.
The latest report from the United States Patent and Trademark Office says the Los Angeles-Orange County region featured the third-highest count of utility patents in the country. The area’s 6,476 patents trailed only New York and San Francisco-Silicon Valley nationally. Some of industry’s biggest names led the way locally in utility patents, including IBM, Qualcomm and Google.
Source: JLL Research, United States Patent and Trademark Office, ESRI
Utility patents are a
tell-tale sign of innovation
Utility patents differ from regular patents in that they protect the creation of a product, not just the design. They usually require a highly technical skillset, which is what makes them a good barometer for innovation in a local tech scene.
By looking at utility patent counts, we can locate where the most highly educated people are clustered. And for tech companies looking to hire top talent, that’s an easy way to identify a strong labor pool. Talent grows their own companies, regardless of stage, and provides broader market stability at the same time.
Research: Diana Johnson-O’Brien | Editor: Michael Cronin