Biodiversity and intellectual property rights: Conflict or synergy

Abstract

India is a country with a diverse ecosystem. Traditional knowledge (TK) is an important element of Indian culture and society. Because of its diversity, India has been a victim of biopiracy on multiple occasions, though it has learned from the haldi, neem, and basmati episodes. While it is critical for countries to maintain their biodiversity and indigenous knowledge, it is also critical to protect the rights of those who add value to it and expand its usage through intellectual property rights (IPR). As a result, biodiversity conservation and IPR come into conflict. Biodiversity conservation conventions and statutes aim to strike a balance between the interests of both parties. The Biodiversity Act of 2002 in India stipulates that indigenous tribes must give their prior informed consent before accessing and utilizing a bioresource. It also establishes a legal framework for benefit sharing in various ways in the event that any intellectual property on the bioresource or relevant TK is acquired. However, putting the plan into action is still a struggle. This, in turn, deprives the true bearers of the relevant TK, who have either nurtured bioresources for years. The framework of biodiversity conservation legislation as a way of protecting TK holders' rights in the international and Indian contexts is discussed in this study.