Intellectual property

Intellectual Property – IP is usually considered to be a company's most valuable asset, especially those who engage in innovation, research and development.  Intellectual property is an intangible asset that often creates the foundation for the operation and success of companies. However, in many instances, those assets are a hidden treasure that needs to be recognized and nurtured in order to further the company's success.

Intellectual Property is often the cornerstone of many start-up businesses. Intellectual Property rights are therefore an important tool to help these businesses to grow and prosper. The Icelandic Intellectual Property Office handles matters regarding Intellectual Property rights in Iceland, and therefore plays an important role in assisting businesses in maintaining their operational viability.

Some Intellectual Properties are subject to registration (patents, trademarks, designs) while others can be protected with other appropriate measures. Intellectual Property rights must always be handled and managed in a responsible and organized way in order to manage and maximize their value.

It is important to keep in mind that even though Intellectual Property rights are divided into several fields they can all apply to one and the same thing. It is furthermore important to investigate what rights already exist before commencing the application process.

Intellectual Property rights are not just about protecting against infringement by the competition. It can also facilitate access to and attract potential investors.