What are the implications of WIPO's new treaty to protect genetic resources and traditional knowledge
WIPO recently concluded a new treaty to safeguard genetic resources and traditional knowledge.
- Enhanced Protection: The treaty provides a framework to protect genetic resources and traditional knowledge from misappropriation and unauthorized use.
- Fair Benefit Sharing: It ensures that communities and indigenous peoples receive fair and equitable benefits from the commercialization of products derived from their genetic resources and traditional knowledge.
- Preserving Cultural Heritage: By safeguarding traditional knowledge and genetic resources, the treaty helps preserve cultural heritage and promotes sustainable development.
- Legal Certainty: The treaty provides legal clarity and certainty for users and providers of genetic resources and traditional knowledge, facilitating research, innovation, and commercial activities.
- Global Cooperation: Promotes international cooperation in protecting genetic resources and traditional knowledge, fostering dialogue and collaboration among countries and stakeholders.
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11 months ago