RU Intellectual Property Rights Policy

1. Gerneral

1.1. According to Act no 63/2006 a higher education institution is an independent educational institution that pursues teaching, research, the preservation and search for knowledge, and creative activity in the fields of science, the humanities, technology, or the arts. The role of higher education institutions is to contribute to the creation and dissemination of knowledge and skills for the benefit of students and of society in general. The activities of higher education institutions are aimed at strengthening the fabric of Icelandic society and its position in an international context, an endeavor guided by the interest of future generations. Higher education institutions are centers of knowledge and form part of the international education and science community.
1.2. Reykjavik University emphasizes that employees have the opportunity to work on the application of research and projects, whether this involves creating licensing agreements, selling intellectual property, or establishing start-up companies. The Intellectual Property Rights policy is intended to support those employees who believe that their research may lead to intellectual property, by ensuring both their rights and obligations. In this context, it is important to maintain a balance between the interests of researchers, the university, industry, and society.
1.3. The intellectual property right policy is based on Act No. 72/2004 on Employee Inventions and the principles of labor law.
1.4. The Intellectual Property Council of Reykjavik University is responsible for overseeing the Intellectual Property Rights Policy. The Council operates on behalf of the Rector on the protection and exploitation of intellectual property and the establishment of start-up companies. The Intellectual Property Council consists of three members appointed by the Rector, two of whom shall represent academic staff, one of whom shall be from the Faculty of Technology, and one from outside the University. The Intellectual Property Council is appointed for a term of three years.

2. Scope

2.1. The Intellectual Property Rights Policy applies to all employees at Reykjavik University, whether full-time or part-time. The same applies to guest employees and students who receive payments in the form of wages or grants from the University (hereinafter referred to as employee/employees). The policy applies equally to intellectual property that one or more people co-generate.
2.2. The Intellectual Property Rights Policy applies to inventions within the meaning of Act No. 17/1991 on Patents and other applied research and projects (in this Policy collectively referred to as intellectual property). Other applied research and projects within the meaning of the Intellectual Property Rights Policy include, for example, design as defined in Act No. 46/2001 on Design, Know How and Works according to the provisions of the Copyright Act No. 73/1972. However, unless otherwise agreed, copyright in literary works, including educational materials, manuscripts, articles and books, is exempted.
2.3. The Intellectual Property Rights Policy applies to intellectual properties which are part of the work of university employees, or which relate to specific research or projects assigned to them or undertaken within the University. The same applies to intellectual property generated by the use of university resources, including funds, housing, materials, equipment and other facilities, unless otherwise agreed.
2.4. The provisions of this Intellectual Property Rights Policy shall be taken into account when claims to intellectual property are being negotiated in collaborative projects to which Reykjavik University employees are parties. In the case of contract research or other funded research in whole or in part by companies, institutions, universities or associations, some departure from the provisions of the Intellectual Property Rights Policy may be reasonable. Deviations shall be discussed with relevant employees. Deviations shall be subject to special agreements which the Intellectual Property Council of the University shall be informed of.
2.5. This policy does not affect the University's policy on research publication and open access. Employees are encouraged to consider the exploitation of research and project findings and the possibility of patent protection before publication.

3. Right to intellectual property

3.1. Reykjavik University may demand assignment of rights to its employees' intellectual property in accordance with Act No. 72/2004 on Employee Inventions and the Principles of Labour Law, cf. Article 2.

4. Notification of intellectual property

4.1. If employees believe they have developed exploitable intellectual property in course of their work (inventions and other practical research and projects) they should notify the Intellectual Property Council of Reykjavik University of the intellectual property, unless otherwise agreed. This applies regardless of whether the intellectual property was created in collaboration with other employees, students or third parties. Employees shall seek the opinion of the Intellectual Property Council if they are unsure whether the intellectual property is exploitable. Students who are also considered employees in accordance with this policy shall notify intellectual property with their supervisor. It is possible to request an expedited process, in which case the Intellectual Property Council must respond within 4 weeks. Such a request must be justified.
4.2. Information on intellectual property shall be in such form that the University can reasonably assess its importance. If the Intellectual Property Council considers that notification is premature, e.g. because of a lack of research or information, the Council may require employees to submit a new notification when the intellectual property is in such form that the Committee can consider it.
4.3. A notification, cf. Article 4.1, shall be sent before the intellectual property is published, whether in speech or writing. In order to have intellectual property protected, e.g. by a patent, the intellectual property must not have been published in speech or writing. Employees shall therefore consider that the intellectual property will not be published until a decision on the transfer and submission of a patent application has been made or the Intellectual Property Council has declared in writing that it will not demand the transfer of the intellectual property.

5. Assignment and exploitation of intellectual property

5.1. The Intellectual Property Council shall, within three months of receipt of the notification, decide whether to request an assignment of intellectual property to the University, provided that the notification meets stipulated conditions. Before the Intellectual Property Council makes a decision on the assignment, the person in question is invited to attend a meeting of the Council and explain the intellectual property and possible opportunities. Staff shall be informed of the Council decision within the same time limit.
5.2. If Reykjavik University decides to request assignment of the intellectual property of its employees, a written assignment agreement shall be finalized. In such cases, when intellectual property is jointly owned by employee(s) and student(s) the Intellectual Property Council may invite the student(s) to be treated as an employee according to this policy. If intellectual property has been created jointly by the University with a third party, the Intellectual Property Council shall enter into an agreement with the third party regarding their share of intellectual property, the right to exploit and the distribution of financial returns prior to the assignment.
5.3. The Intellectual Property Council shall take all decisions concerning the protection of the intellectual property that has been assigned, including decisions to file and withdraw a patent application(s), respond to office action from patent authorities and respond to oppositions. The same applies to decisions as to whether and in what way intellectual property will be exploited, for example by means of a license agreement or sale and the financial terms of exploitation. The Intellectual Property Council shall consult with appropriate staff on the exploitation of intellectual property. The Intellectual Property Council may also approve the establishment of a start-up company for the purpose of exploitation of intellectual property, if requested by the appropriate employees and, if appropriate, to enter into a licensing agreement on the intellectual property with the company or to engage in cooperation with third parties in the exploitation of intellectual property. Employees enjoy the right to be named during protection, marketing and exploitation of intellectual property.
5.4. Employees shall provide the Intellectual Property Council with all necessary assistance in obtaining legal protection and the exploitation of their intellectual property and respect the obligations arising from protection and exploitation. Furthermore, employees should inform the Intellectual Property Council of possible conflicts of interest.
5.5. The Intellectual Property Council shall endeavour to ensure that, in agreements with third parties on the exploitation of intellectual property, Reykjavik University is authorised to use the intellectual property for teaching and research, provided that such use is not for financial purposes. Decisions to the contrary shall be reasoned in the minutes of the Intellectual Property Council.
5.6. The Intellectual Property Council may at any time decide that intellectual property protection and/or exploitation of the acquired intellectual property shall be waived. The Intellectual Property Council must give reasons for such decisions.
5.7. The Intellectual Property Council assesses at least annually whether to maintain registered intellectual property rights, including patents.

6. Division of financial returns

6.1. The financial returns to be divided are net profits, i.e. the amount remaining when direct cost incurred by Reykjavik University in respect of the protection and exploitation of intellectual property have been paid, e.g. costs of novelty searches, patent applications and other patent-related cost, market research and business development. The principle on the division of financial profit from the exploitation of intellectual property to which Reykjavik University has been assigned is as follows:

• Intellectual Property Council 15%
  The revenues are used, inter alia, to cover the costs of the work of the Intellectual Property Council, inter alia, to cover the costs of a knowledge and technology transfer office, expert services, non-reimbursable patent costs and other costs relating to registration and enforcement of intellectual property. This share may be higher in cases where the intellectual property is jointly owned by Reykjavik University and a third party which is responsible for the protection and exploitation of the intellectual property. All profit more than costs goes to the Reykjavik University Research Fund.
  After the above costs have been paid, the sum which remains is divided as follows:
• Employee(s) 33%
  If employees jointly generate intellectual property, the research/project director is responsible for negotiating their respective interests. An agreement to this effect shall be in place prior to the assignment agreement.
• Operating unit, such as division 33 %
• Reykjavik University 34%
  The revenue goes to the Reykjavik University Innovation Fund.

6.2. Under exceptional circumstances, the Intellectual Property Council can deviate from the above principle if the financial division is not considered fair, e.g. due to party contributions and research funding. Agreements on financial division may be changed at the request of one party later, when the circumstances that originally formed the basis have changed significantly or other special circumstances recommend it. However, payments received by employees according to a previous decision must never be refunded. The Intellectual Property Council shall justify the decision on another financial division in the meeting minutes.
6.3. Financial profits from the exploitation of intellectual property are paid to Reykjavik University, which pays each party its share.

7. Waiver of intellectual property and/or exploitation

7.1. The Intellectual Property Council can waive the right to intellectual property and/or exploitation at any time, if the council decides not to file an application for a patent, design or other registered intellectual property rights, or exploit intellectual property assigned to the university. Before making the decision, the Intellectual Property Council must seek the opinion of the relevant employees. Reykjavík University's start-up policy applies when employees subsequently decide to establish a start-up company to work on the exploitation of intellectual property.
7.2. If the Intellectual Property Council decides to waive its right to intellectual property and/or exploitation, according to article 7.1. and If the Intellectual Property Council has incurred costs, e.g. relating to filing of an application for a patent, design or other registered intellectual property rights, or when exploitation of intellectual property has begun, the Intellectual Property Council may decide to transfer the intellectual property back to the employees concerned, subject to one or more of the following conditions, which shall be agreed upon separately in each case:

1. Employees reimburse Reykjavik University's expenses incurred, e.g. for legal advice, patent applications and patents, contracts and actions for the marketing and exploitation of intellectual property.
2. Reykjavik University and the employees operating unit will receive a share of the financial profits from the exploitation of the intellectual property.
3. Reykjavik University receives a share in the start-up company, independent of the university's involvement in the company based on the Reykjavik University start-up policy. Profits from the sale of shares in start-up companies go to Reykjavík University's innovation fund.

8. Use of name and logo

8.1. It is in the interest of Reykjavik University and a collaborator that their names and/or logos be used in a positive, correct and appropriate manner. Reykjavik University may refer to employees, licensees, buyers of intellectual property or partners in connection with intellectual property, unless otherwise agreed. Similarly, employees, licensees, buyers and partners are permitted to use the name or logo of Reykjavik University in connection with the intellectual property. All major press releases shall be submitted for review to the relevant party.

9. Policy review

9.1. The Intellectual Property Council shall review the policy as necessary, but no less frequently than every three years, and submit proposals for amendments to the University's Executive committee. The policy with approved changes shall be published on the University's website.

The Intellectual Property Rights Policy enters into force after approval of the Executive Committee of Reykjavik University.

Approved by the Executive Committee of Reykjavik University on December 10, 2024