Ignoring our traditional knowledge can we prove costly in the area of biological patenting? Justify.

Countries like India are underdeveloped countries which are very rich in biodiversity as compared to developed countries like America. These developed countries often under compensate and un-credit the underdeveloped countries for their traditional knowledge regarding the biodiversity of various plants and other organisms.

Thus, if countries like India don’t have the proper biological patenting rules for its traditional knowledge then thedeveloped countries would keep on exploiting its resources without giving any due credit or compensation.