In which year "WIPO Treaty on Intellectual Property, Genetic Resources and Associated Traditional Knowledge" has been adopted?

Correct option is C

The correct answer is: (c) 2024

Explanation:

The WIPO Treaty on Intellectual Property, Genetic Resources and Associated Traditional Knowledge (GRATK Treaty) was adopted on May 24, 2024 at the World Intellectual Property Organization (WIPO) headquarters in Geneva, Switzerland.

This makes 2024 the correct and official year of adoption.

Information Booster

Key Features of the WIPO GRATK Treaty (2024)

1. Recognition of Traditional Knowledge (TK) and Wisdom Systems

• For the first time in global IP history, traditional knowledge and community wisdom systems have been formally recognised and integrated into the international IP system.
• The treaty sets global standards for protecting provider countries' Genetic Resources (GRs) and Associated Traditional Knowledge (ATK).

2. Protection of Biodiversity and Local Communities

• Aims to balance the global Intellectual Property Rights (IPR) framework with the rights of countries rich in biodiversity and traditional knowledge.
• Strengthens the connection and ownership of local and indigenous communities over their resources.

3. Inclusive Innovation

• Encourages innovation that respects traditional knowledge and community practices.
• Protects valuable ancestral knowledge on medicinal plants, agriculture, and other life sciences, preventing misuse and misappropriation.

4. Mandatory Disclosure Requirement

• Patent applicants must disclose the country of origin or source of GRs or ATK when the invention is based on them.
• This prevents biopiracy and enhances transparency in patent filings.

5. Prevention of Misappropriation

• Countries must introduce mandatory disclosure mechanisms.
• Offers strong protection even in nations where such disclosure laws did not previously exist.
• Helps counter false claims and contested patents on traditional herbs, plants, or community knowledge.