Trademarks are used to label goods and services. Trademarks may be any type of visible sign used to differentiate the goods or services of one party from the goods or services of other parties. Moreover, trademarks are often used as company names and domain names. By registering a trademark with the Icelandic Patent Office, it is possible, subject to certain conditions, to protect goods and services identifiers for 10 years at a time and to renew such protection regularly for as long as the trademark owner desires.
The rights established by trademarks legislation (see Trademarks Act as amended) entitle a trademark proprietor to exclusive rights to use the trademark in Iceland and, as a result, the right to prohibit others from using, for commercial purposes, marks that are identical or similar to its own trademark. Furthermore, it is important to register a trademark if it needs to be protected from outside exploitation.