Write a short note on Biopiracy highlighting the exploitation of developing countries by the developed countries.

The term biopiracy refers to the unethical and unauthorized use of biological resources by multinational companies and other organizations without permission from concerned authorities and individuals.

For example, the fungicidal properties of Neem were patented by an American Multinational company while India has used properties of neem since ancient times. Thus, the American Multinational the company had bio-pirated the knowledge of fungicidal properties of Neem from the Indians without giving due credits or recognition.