The role of the Intellectual Property Committee (IP Committee) is to encourage staff and doctoral students to transfer technology from research results for the benefit of society. This may be done through the sale of patents, as overseen by the IP Committee, or licensing. If the IP Committee decides to apply for a patent, the committee will finance the work involved. In some cases it may be preferable to found a start-up company or establish a collaborative project with an external party possessing the specialist knowledge and resources necessary for transferring the technology.
The IP Committee has prepared a form, Disclosure of invention, in order to make it easier for staff and doctural students at the University of Iceland and Landspítali University Hospital to submit an invention to the committee. The IP Committee bases its decision concerning technology transfer on the disclosure.
The IP Committee works on projects that could create technical transfer opportunities for companies and investors, as well as initiating the founding of start-up companies.