● `color{violet}("Biopiracy")` is the term used to refer to the use of
`color{violet}("bio-resources")` by multinational companies and other organisations without proper authorisation from
the countries and people concerned without compensatory payment.
● Most of the `color{violet}("industrialised nations")` are
`color{violet}("rich financially")` but poor in `color{violet}("biodiversity and traditional knowledge")`.
● In contrast the developing and the underdeveloped `color{violet}("world is rich in biodiversity")`
and `color{violet}("traditional knowledge")` related to bio-resources.
● `color{violet}("Traditional knowledge")` related to `color{violet}("bio-resources")` can be exploited to develop
modern applications and can also be used to save time,
effort and expenditure during their `color{violet}("commercialisation")`.
● There has been `color{violet}("growing realisation")` of the injustice, inadequate compensation and benefit sharing between developed and developing countries.
● Therefore, some nations are developing laws to prevent such unauthorised exploitation of their `color{violet}("bio-resources")` and `color{violet}("traditional knowledge")`.
● The `color{violet}("Indian Parliament")` has recently cleared the `color{violet}("second amendment of the Indian Patents Bill")`,
that takes such issues into consideration, `color{violet}("including patent terms emergency provisions")` and
`color{violet}("research and development initiative")`.
● `color{violet}("Biopiracy")` is the term used to refer to the use of
`color{violet}("bio-resources")` by multinational companies and other organisations without proper authorisation from
the countries and people concerned without compensatory payment.
● Most of the `color{violet}("industrialised nations")` are
`color{violet}("rich financially")` but poor in `color{violet}("biodiversity and traditional knowledge")`.
● In contrast the developing and the underdeveloped `color{violet}("world is rich in biodiversity")`
and `color{violet}("traditional knowledge")` related to bio-resources.
● `color{violet}("Traditional knowledge")` related to `color{violet}("bio-resources")` can be exploited to develop
modern applications and can also be used to save time,
effort and expenditure during their `color{violet}("commercialisation")`.
● There has been `color{violet}("growing realisation")` of the injustice, inadequate compensation and benefit sharing between developed and developing countries.
● Therefore, some nations are developing laws to prevent such unauthorised exploitation of their `color{violet}("bio-resources")` and `color{violet}("traditional knowledge")`.
● The `color{violet}("Indian Parliament")` has recently cleared the `color{violet}("second amendment of the Indian Patents Bill")`,
that takes such issues into consideration, `color{violet}("including patent terms emergency provisions")` and
`color{violet}("research and development initiative")`.