Q.Define the terms:

A bio-patent is a lawful exclusive right over a biological invention, while bio-piracy is the unauthorised, uncompensated exploitation of another region's biological wealth or traditional knowledge.

A bio-patent is granted by a national or international patent authority to protect a genuinely novel biological invention — such as a new genetically modified organism, an isolated gene sequence with a specified use, or a biotechnological process — giving the patent holder exclusive rights to commercially exploit that invention for a fixed period, in exchange for public disclosure of the invention. Bio-piracy, in contrast, refers to individuals, research institutions or corporations (often from developed nations) collecting biological resources (plants, microbes, genetic material) or traditional/indigenous knowledge about their uses from a biodiversity-rich country, and then patenting or commercially exploiting them without …