Intellectual Property and Patents

Intellectual property consists of developed ideas that can be very valuable for the growth and success of companies.

By protecting ideas and utilising the benefits of marketing, customers associate a brand or design with, for example, product price, quality, and good service, thereby building trust in the company.

A patent can be obtained for technical inventions that are new on the day the protection is applied for, provided they differ from other solutions on the market.

Inventions do not need to be complex and they can be based on what already exists, provided that something useful results from them.

If a patent is granted, it is valid for twenty years from the application date, but only in Iceland, unless an application is also filed in other countries. It is therefore important to know which market area you plan to work with and to also apply for a patent there.