WIPO approves treaty on disclosure of genetic resources in patent filings
Date
5/27/2024 3:37:47 AM
(MENAFN) The World Intellectual Property Organization (WIPO) endorsed a groundbreaking treaty on Friday, aimed at enhancing transparency regarding the utilization of genetic resources and associated traditional knowledge in patent filings.
Marking a significant milestone, this treaty represents WIPO's inaugural effort to address the intersection of intellectual property rights, genetic resources, and traditional knowledge, while also incorporating provisions tailored for indigenous peoples and local communities.
Entitled the WIPO Treaty on Intellectual Property, Genetic Resources, and Associated Traditional Knowledge, the agreement is designed to prevent the issuance of patents for inventions lacking novelty or inventiveness concerning genetic resources and associated traditional knowledge.
Upon attaining ratification by 15 contracting parties, the treaty will introduce a novel disclosure requirement in international law, compelling patent applicants to explicitly identify the origin of genetic resources utilized and the involvement of indigenous communities in their inventions.
Genetic resources encompass a broad spectrum, including medicinal plants, agricultural crops, and animal breeds. Under the provisions of the treaty, patent applicants are obligated to disclose the sources of genetic resources and the contributions of indigenous communities to their innovations.
WIPO's Director-General, Daren Tang, hailed the treaty's approval as a testament to the effectiveness of multilateralism within the organization, culminating a protracted 25-year negotiation process.
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