Magnetic logic gates based on magnetostatically coupled ferromagnetic structures show a great promise for future information processing. The absolute size and shape of the elementary structures determine their intrinsic and interaction properties and thus have to be chosen appropriately in order to allow for binary logic operations. Here, we present a systematic study of the switching behavior, stray field, and coupling of Permalloy nanostructures as a function of geometrical parameters using micromagnetic simulations. We show that bow-tie shaped elements are promising for magnetic logic gates. © 2007 American Institute of Physics.