Patents protect the technical realisation of an idea, such as equipment and products, as well as methods or applications. A basic requirement for granting a patent for an invention is that it is new, inventive and capable of industrial application.

• Novelty: The invention must be new, not only in Iceland but world-wide. The invention may not have been publicised in speech or in writing before an application for a patent is filed.
• Inventive: The invention must differ essentially from prior art, i.e. the solution to the problem it resolves may not be obvious to a person skilled in the art.
• Capable of industrial application: The invention must be of practical economic use, i.e. it must be possible to manufacture and sell it.

Patents granted by the Icelandic Patent Office protect inventions for up to 20 years in Iceland. The exclusive rights established in patent legislation (see Patents Act No 17/1991, as amended) entitle the proprietor to prohibit others from manufacturing, importing and selling an invention protected by a patent.