WIPO Treaty

Current Context : This historic new treaty has been adopted by the member states of the World Intellectual Property Organization (WIPO).

• This is the first WIPO Treaty to address the interface between Intellectual Property (IP), Genetic Resources (GR) and Traditional Knowledge (TK) and include provisions specifically for Indigenous Peoples as well as local communities.
• It is a significant win for countries of the global South and for India, which is a mega biodiversity hotspot with abundance of traditional knowledge, and wisdom.
• The treaty will not only safeguard and protect biodiversity but will increase transparency in the patent system and strengthen innovation.
• Members: Any member states of WIPO may become part to this treaty.
• Aim : to address biopiracy, where traditional knowledge is used by others for profit without permission from and with little or no compensation or recognition to indigenous people.

ABOUT WORLD INTELLECTUAL PROPERTY ORGANIZATION (WIPO)

• Established : in 1967 through WIPO Convention.
• Headquarters: Geneva, Switzerland.
• Membership: 193 member states including India.
• Objective: It is a specialized UN Agency acting as a global forum for IP services, policy, information and cooperation.