In an opinion delivered on Wednesday 15 May, the European Court of Auditors said that the €542 million budget surplus accumulated by the European Union Intellectual Property Office (EUIPO) must be reinvested in a productive way to support research and innovation.
Based in Alicante (Spain), the European agency is the only one that makes such profits through its work registering EU trademarks and Community designs. At the end of 2018, it had accumulated profits of €542 million and 90% of...