NEETZoologyBiotechnology and Its Applications
What is the significance of the second amendment of the Indian Patents Bill?
Options
- AIt authorizes the exploitation of bio-resources and traditional knowledge.
- BIt prevents the exploitation of bio-resources and traditional knowledge.
- CIt provides compensation for the exploitation of bio-resources and traditional knowledge.
- DIt takes into consideration issues related to patent terms, emergency provisions, and research and development
Correct answer
D. It takes into consideration issues related to patent terms, emergency provisions, and research and development
Step-by-step solution
Most of the industrialised nations are rich financially but poor in biodiversity and traditional knowledge. In contrast the developing and the underdeveloped world is rich in biodiversity and traditional knowledge related to bio-resources. Traditional knowledge related to bio-resources can be exploited to develop modern applications and can also be used to save time, effort and expenditure during their commercialisation. There has been growing realisation of the injustice, inadequate compensation and benefit sharin