Reported 5 months ago
U.N. member countries have finalized a new treaty to ensure that genetic resources, such as medicines derived from plants in the Andes mountains, are appropriately traced in inventions. The treaty mandates that patent applicants must disclose the origin of genetic resources and associated traditional knowledge, providing recognition to indigenous cultures. While the accord does not address compensation for Indigenous communities, it signifies a significant step internationally, requiring companies in various industries to specify the origin of plant-based chemicals in their products. WIPO's Genetic Resources and Associated Traditional Knowledge Treaty, achieved after more than two decades of development, will become international law once 15 countries adopt it, focusing on genetic resources like medicinal plants and farm crops for future discoveries.
Source: YAHOO