‘A mandate created by the 193 participating nations, of which the United States is not a part, has ensured that countries will now have full jurisdiction over their genetic resources, and the resulting profits.
‘Countries will be able to collect compensation or royalties on any product made from a genetic resource within their borders.
‘This will have tremendous implications for the developing world, whose rainforests and ecologies hold more than 50 percent of the world’s species.
‘This genetic variety means that developing countries will now have both an economic and environmental incentive to keep their rainforests protected and productive.’
Read the whole article at MediaGlobal: COP-10 gives intellectual property rights new meaning, 17 November 2010.