Bioprospecting good – drives innovation, elevates developing countries, preserves biodiversity

[Jonathan B. Warner, University of Indiana School of Law, “Using Global Themes to Reframe the Bioprospecting Debate, https://www.repository.law.indiana.edu/cgi/viewcontent.cgi?article=1340&context=ijgls DOA 7/2/24, MP]

Despite the serious concerns of neocolonialism and loss of biodiversity, there also may be significant positive effects of bioprospecting." Bioprospecting allows those who are in the best economic position to disseminate valuable information to do so uninhibited.59 For example, as many as four-fifths of all drugs have their basis in natural plant resources.6 " Hence, this use of broad intellectual property protection may increase the likelihood of finding and distributing medicinal cures.61 Such cures could especially improve quality of life for indigenous persons.6 2 In addition, it can be argued that bioprospecting breaks down the North South divide, which tends to separate developed and undeveloped countries, and establishes incentives to preserve the world's biodiversity. Bioprospecting creates economic incentives for large and wealthy businesses to invest in protecting the world's biodiversity to assure that valuable resources are not lost.63 Further, knowing that bioresources in themselves may be valuable to developed nations, southern nations may be able to establish a system of protection for domestic resources.6 This system of protection could dramatically increase southern bargaining power and help dissolve the North-South divide.