BIOPIRACY – WHO’S WATCHING?
Latin America is one of the most biodiverse areas in the world. As such, it has been a hotbed for innovation based from its natural resources. The term biopiracy has been used to describe as the process by which the rights of indigenous and local communities to their natural resources and related traditional knowledge are exploited by granting exclusive rights to foreigners. The panel will discuss the background and issues of biopiracy in general and what type of legal mechanisms are in place to make sure that there access to natural resources are regulated to recognize the rights of local communities and that they are in a position to grant informed consent and share in the benefits of the exploitation of any product that is based in a local resource/knowledge.