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.