Bio-piracy:

• Biopiracy is the term used to refer to the use of bio-resources by multinational companies and other organizations without proper authorization from the countries and people concerned without compensatory payment.
•  It is increasing injustice, inadequate compensation and benefit sharing between developed and developing countries.
• Therefore, some nations are developing laws to prevent such un-authorized exploitation of their bio-resources and traditional knowledge.
• The Indian Parliament has recently cleared the second amendment of the Indian Patents Bill that takes such issues into consideration, including patent terms emergency provisions and research and development initiative.