Give information about Bio-patent.

(N/A) Bio-patent is a patent granted by a government to an inventor for biological entities and products derived from them.
$1$. Many researchers conduct studies for human welfare. The intellectual property rights for these inventions are granted to the specific researcher or organization.
$2$. Governments grant patents to ensure that the economic benefits of such research are accessible to the inventor.
$3$. There is growing public concern regarding companies obtaining patents for products and technologies that utilize genetic materials,plants,and other biological resources that have long been identified,developed,and used by farmers and indigenous communities.
$4$. For example,$200,000$ varieties of rice exist in India. Basmati rice,known for its unique aroma and flavor,has $27$ documented varieties grown in India for centuries,with references in ancient texts and folklore.
$5$. In $1997$,an American company obtained patent rights for Basmati rice from the $US$ Patent and Trademark Office,allowing them to sell a new variety derived from Indian farmers' varieties (crossed with semi-dwarf varieties) as an 'invention'.
$6$. This patent could restrict others from selling Basmati rice. Similar attempts have been made to patent traditional Indian knowledge,such as the medicinal properties of turmeric and neem.
$7$. Vigilance is required to counter such patent applications to protect our rich biological legacy and traditional knowledge.