What do you mean by biopatent? Write its uses and abuses.

Biopatent is the official's document granted by the government to a person or company for an exclusive invention made for certain time period. Today manufacturing companies are being granted patents for products and technologies that make of biological resources, such as animals and plants, genetic materials which were identified developed and used by farmers and indigenous peoples. Companies are rushing to set patents of new products derived from biological resources so as to prevent competitions from using them. They then reap large profits by hiking up the products at will or by charging royalties to other firms wishing to use the technology. 
Today a worldwide fight has started against biopiracy and patent on life because farmers and indigenous people are the true owners of the knowledge and biotic resources.