The Intellectual Property Committee (IP Committee) works for the University of Iceland and the Landspítali University Hospital, on the basis of operational rules founded on the Act on respecting employees' inventions no. 72/2004, and the main legal principles of Icelandic labour law.
The operational rules apply to all staff, students, research grant recipients or anyone else (hereafter jointly referred to as staff) to have been involved with the invention/innovation in the course of their work and connected to a certain project assigned to them or research overseen by the institutions, regardless of whether the individual in question is in a part-time or full-time position. The same applies to staff inventions/innovations which come into being thanks to use of resources from University of Iceland or Landspítali University Hospital, including funding, premises, materials, equipment or other working facilities. Should these parties work for both UI and Landspítali University Hospital, this shall not affect their rights and obligations.
The operational rules provide for patentable inventions and innovations, including discoveries, scientific theories, mathematical procedures, business procedures, know-how, design or anything else that falls under the term 'invention' in the legal sense, cf. the Patents Act no. 17/1991.
The operational rules include provisions on the rights of University of Iceland and Landspítali University Hospital to the inventions/innovations of staff. For their contribution, staff have a right to a fair share of the profits resulting from transfer of the invention/innovation. The operational rules include general rules for division of profit.
The operational rules are not intended to affect staff's normal publishing rights, for example with regard to books or articles, taking into account the submission of patent applications.