Question :A multinational company (XYZ) marked a medicine extracted from medicinal herbs grown in the sprawling fields in a foreign country. This herb is found only in our country and no compensation was paid or permission taken from relevant authority.(a) What is the term used to refer to such an act committed by the multinational company? (b) Justify the meaning of the term. (c) What has our government done to prevent such deeds?

Question :A multinational company (XYZ) marked a medicine extracted fr

1.	Question :A multinational company (XYZ) marked a medicine extracted from medicinal herbs grown in the sprawling fields in a foreign country. This herb is found only in our country and no compensation was paid or permission taken from relevant authority.(a) What is the term used to refer to such an act committed by the multinational company? (b) Justify the meaning of the term. (c) What has our government done to prevent such deeds?
Answer» SOLUTION : (a) Biopiracy (b) Biopiracy tantamounts to stealing of bioresources of another country. (c) GOVERNMENT is developing law such as INDIAN PATENTS Bill to prevent biopiracy.