Would you like to utilize your research; license or sell intellectual property rights, establish a start-up company or seek collaboration with other companies? The Intellectual Property Commitee of the University of Iceland and Landspítali assists employees with utilization of their research!According to the Icelandic Act Respecting Employees´ Inventions, No. 72/2004, the University of Iceland and Landspítali, as other employers, are entitled to acquire the right to inventions of employees what have emerged within the scope of their work. The same applies to inventions that are related to a certain project that employees are entrusted with.
Should the Intellectual Property Commitee decide on behalf of the University of Iceland or Landspítali, to acquire the rights to an invention, an agreement is made between the Committee and the respective employee on the transfer of rights over the invention and fair remuneration in return. Should the Committe decide to file a patent application for the invention, the Committee will finance the application. Subsequently, preparations for utilizing the invention commences in collaboration with TTO-Iceland (Auðna-tæknitorg).
The technology in question is generally transferred via a license agreement made with an established company or a start-up company. Profits resulting from the utilization of the invention are generally divided as follows: a) Staff member(s) - 35%, b) Staff member's research work - 10%, c) Staff member's work unit - 10% and d) The University of Iceland and/or Landspítali University Hospital, as applicable - 45%. When revenues from an invention/innovation are due to a license agreement entered into by TTO Iceland, TTO Iceland receives 5% of the total revenues and that share is deducted from the undivided share of the University of Iceland and Landspítali.
The role of the IP Committee is to enforce the procedure that the University of Iceland and Landspítali have set for themselves on the utilization of inventions and research results of their employees.
The IP Committee operates on the basis of Operational rules as well as Statement of duties, both based on the Act of Respecting Employees´ Inventions No. 72/2004, as well as the principles of Icelandic Labour Law.