Biopiracy refers to:

The correct answer is Option (3) → Use of bio-resources by companies and other organizations without proper authorization from countries and people concerned without compensation amount

Option (1) Use of bioresources by companies with proper authorization — Incorrect. Use with proper permission is lawful use, the opposite of piracy.

Option (2) Copying of someone’s work without consent — Incorrect. This describes copying of written or creative work. Biopiracy is about bio-resources such as plants, genes and traditional knowledge.

Option (3) Use of bio-resources by companies and other organizations without proper authorization from countries and people concerned without compensation amount — Correct. Both parts must hold: no permission and no payment. The patent on a Basmati-derived rice in the USA is NCERT’s example.

Option (4) Use of bio-resources by companies and other organizations without proper authorization from countries and people concerned with compensation amount — Incorrect. Biopiracy is use without compensatory payment; this option says the opposite in its last words.

NCERT Extract:
Ethical Issues – “… 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.”