|Biopiracy refers to the use of bioresources by multinational companies and other organisations without proper authorisation from the countries and people concerned without compensatory payment. Most of the industrialised nations are rich financially but poor in biodiversity and traditional knowledge.|
|In contrast, the developing countries are rich in biodiversity and natural resources. Therefore, biopiracy has exploited the developing countries more than developed countries. For example, Foreign companies has collared at least 22 plant of Indian origin through patenting.|
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