Question

What is the difference between bio patent and bio piracy?

Answer 1

bio patent is a patent on an invention in the field of biology by laws that allows the patent from making.
whereas
bio piracy refers to use of resources by multinational companies.

Answer 2

Answer:

Bio patent and bio piracy are related but distinct concepts.

Explanation:

A bio patent is a legal instrument that grants exclusive rights to an inventor or assignee for a certain period of time, in exchange for the public disclosure of an invention. In the context of biotechnology, a bio patent may be granted for a new gene sequence, a genetic engineering process, or a new drug or medical device. The purpose of bio patents is to encourage innovation by providing inventors with a financial incentive to invest in research and development.

Bio piracy, on the other hand, refers to the unauthorized use of biological resources, traditional knowledge, or intellectual property belonging to indigenous communities or other individuals or groups. It happens when companies or individuals take biological resources or traditional knowledge from a community without obtaining prior informed consent and without providing any compensation or benefits. This can include taking plant or animal genetic resources, traditional medicinal knowledge or other intellectual property without permission or compensation.

In summary, bio patent is a legal instrument that grants exclusive rights to an inventor for a certain period of time in exchange for the public disclosure of an invention, while bio piracy refers to the unauthorized use of biological resources, traditional knowledge, or intellectual property belonging to indigenous communities or other individuals or groups.

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