Conversion of Traditional Knowledge to Intellectual Property: An Analysis of The Use of Biotechnological Resources of India

Intellectual Property is valuable resource to generate money. Due to its uniqueness and its revenue generating capability there is always a risk of theft with such properties. Intellectual Properties are created through some artistic, scientific or indigenous knowledge. While indigenous knowledge falls under the greater protection of law, traditional knowledge which is very general in nature lacks such protection. Though few handful of protection is available both nationally and internationally, those are not sufficient to protect every traditional knowledge due to the higher rate of development in scientific knowledge. Traditional knowledge is the resource to old scientific practices of the society which leads humans to create something new over the old. Such knowledge is also a source about the use of various genetic resources of biodiversity. Our laws protect such knowledge till the first trade through benefit sharing process, but it does not stop anyone to further study and earn from advanced form of uses of that knowledge. Such lacunae require proper attention of law and needs better and long-lasting protection