What is biopiracy? 

Biopriacy is the use of bio-resources by MNC's and other organizations without proper authorization from countries and people concerned without compensatory payment. Industrialized and development nations are economically rich, but poor in biodiversity while opposite prevails for developing nations. Therefore, developed countries exploit traditional knowledge and sources of poor countries for commercialization.
1. This is a matter of injustice since inadequate compensation and benefit sharing is given to poor countries in return. Therefore, steps should be takes by developing countries to prevent this exploitation.
2. The Indian parliament has recently introduced second amendment of Indian parents bill to deal with these issues.