Read the Passage carefully and answer the questions.

Insulin consists of two short polypeptide chains: chain A and chain B, that are linked together by disulphide bridges. The first clinical gene therapy was given in 1990 to a 4-year old girl with adenosine deaminase (ADA) deficiency. This enzyme is crucial for the immune system to function. Recombinant DNA technology, Polymerase Chain Reaction (PCR) and Enzyme Linked Immuno-sorbent Assay (ELISA) are some of the techniques that serve the purpose of early diagnosis of diseases. Transgenic animals that produce useful biological products can be created by the introduction of the portion of DNA (or genes) which codes for a particular product such as human protein (a-1-antitrypsin) used to treat emphysema. 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.

In 1997, an American company got patent rights on Basmati rice through the US Patent and Trademark Office. This allowed the company to sell a 'new' variety of Basmati, in the US and abroad. This 'new' variety of Basmati had actually been derived from Indian farmer's varieties. Indian Basmati was crossed with semi-dwarf varieties and claimed as an invention or a novelty. This is a case of:

Biopiracy

The correct answer is Option (3) → 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.

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.

Traditional knowledge related to bio-resources can be exploited to develop modern applications and can also be used to save time, effort and expenditure during their commercialisation. There has been growing realisation of the injustice, inadequate compensation and benefit sharing between developed and developing countries. Therefore, some nations are developing laws to prevent such unauthorised exploitation of their bio-resources and traditional knowledge.

The Indian Parliament has recently cleared the second amendment of the Indian Patents Bill, that takes such issues into consideration, including patent terms emergency provisions and research and development initiative.