Abstract

Protection of Traditional Knowledge (TK) is important to the one who owns them as it is created and brings economic stability to the one who owns them, which to create a sphere that such kind of knowledge should not be destroyed or eroded. But the reason behind the bestowed that TK is being misused is because there is a lack of identification and documentation as a mechanism that is designed to be protective of the TK. The reason for not having a proper mechanism that gives multinational companies to use and exploit such kind of knowledge for the purposed of their commercial benefits by obtaining them for patenting System. The absence of the proper data-based has been the major issue for the protection of TK, especially in today’s world, and one of the major issues is that of Bio-Piracy. It is important to highlight the compulsions traditional societies face to safeguard their knowledge based on unauthorised exploitation by third parties. In this paper, an attempt has been made to understand how the Bio-Piracy is affecting the Traditional Knowledge bearers of India, further what steps have been taken by the authorities to address the issue and how far they have been successful in the same. Lastly, in this paper, recommendations and suggestions towards the prevention of Bio-Piracy and protection of traditional knowledge have been made.

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