define the terms bio priacy
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the commercial exploitation or monopolization of biological or genetic material, as medicinal plant extracts, usually without compensating the Indigenous peoples or countries from which the material or relevant knowledge is obtained.
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The use of bio resources by the multinational companies and other organizations without any systematic approval from a nation or its related people without any compensatory payment is called biopiracy. ... Due to this some nations are making rules to ban the use of their bioresources without prior permission.
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