Patents result in suppressed innovation, damage to the environment, and the unjust denial of indigenous peoples’ rights

Patents not only act as a roadblock for the new entrants but also hinder the process of free use and exchange of biological materials between the communities. Although, it has been said that patent encourages innovation but in reality, it obstructs new inven- tions as it grants an exclusive right to the patentee to block others from entering into a related field. It also denies the natural rights of the indigenous people to use their naturally occurring resources freely. Patents are considered to be a regulatory tool as the patent holder tries to gain a competitive advantage over the others and regulate the entire market (Bently L., Sherman B., 2014, pp. 380- 381). Farmers are the ones who have been making inventions and discoveries since ages without any proprietary rights or patent protection (Vandana S., 1997, p. 54). So, if the interest of the patent holder is meant to be protected then the farmer’s interest must also be taken into consideration. It has been argued that extending the intellectual property rights on life forms or biotechnological resources have a detrimental impact on the biodiversity. Firstly, patenting of biological resources has not only resulted in the exploitation of the envi- ronment but has also caused inimical effects on our ecosystem. For instance, the misuse of the rosy periwinkle, having alkaloids which are used in curing leukemia and Hodgkin diseases have resulted in the disappearance of the plant species from the Ivory Coast, Togo, Ghana, and Benin. Secondly, patenting encourages the prolifera- tion of monocultural agriculture. The practice of monocultural agriculture replaces the biologically diversified ecosystem and damages all the biodiversity in a particular area. Thirdly, it is generally seen that the practice of granting patents to the corpora- tions of the developed countries over the biological products of the developing coun- tries has resulted in bio- colonialism. It has caused serious environmental damage by putting a risk on the biodiversity of the developing countries without providing any kind of benefit to them (Connery M., 2003, pp. 112-116). So, in order to protect the environment, it is justified to limit patent rights.