The Role of Law and Regulation on the Intersection of Bioprospecting and Bio Piracy

“Bioprospecting” is the “exploration of biodiversity for commercially valuable genetic resources and bio chemicals”. There is an abundance of variety in the biosphere which manifests through a plethora of species of flora, fauna, and microorganisms. Biodiversity maintains ecological balance and evolutionary processes and has several uses and applications in agriculture, health, and food industries. Bio piracy is the exploitative misappropriation of traditional knowledge by parties motivated by commercial interests and also includes the pursuit of creating new compounds from existing biological resources. There is an inequity that is inherent between the exploring entities, often backed by commercial actors, and the indigenous people who possess traditional knowledge. This inequity, fueled by modern patent laws, has led to the conception of “bio piracy”. This paper examines the role of environmental law and regulation in shaping the application of emerging technologies in bioprospecting.