Biopiracy has become an epidemic. Comment.

Explanation

Biopiracy is the term used to refer to the use of bioresources by multinational companies and other organisations without proper authorisation from the country and people concerned without compensatory payment.
(i) Most of the financially rich industrialised nations but poor in biodiversity are exploiting the bioresources and traditional knowledge of developing and underdeveloped poor countries rich in biodiversity.
(ii) There has been growing realisation of injustice, inadequate compensation and benefit sharing between developed and developing countries.
Some nations are developing laws to prevent such unauthorised exploitation of their bioresources and traditional knowledge.