Common term used to refer the use of bio-resources by multinational companies and other organisations without proper authorisation and compensatory payment to the countries and people concerned is:
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → Biopiracy
Option (2) Biopiracy — Correct. The patent on a Basmati derived from Indian varieties is an example.
NCERT Extract:
Biopiracy – “Biopiracy is the term used to refer to the use of bio-resources by multinational companies and other organisations without proper authorisation from the countries and people concerned without compensatory payment.”
Biopiracy – “… Most of the industrialised nations are rich financially but poor in biodiversity and traditional knowledge. In contrast the developing and the underdeveloped world is rich in biodiversity and traditional knowledge related to bio-resources.”