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CS Professional · Intellectual Property Rights - Law and Practice · Biological Diversity

While approving an Indian firm's patent commercialisation based on a bio-resource, the NBA wants benefits to flow to the identified benefit claimers, a tribal community that shared the knowledge. Which of the following is a manner of benefit sharing the NBA may determine under section 21(2)?

The NBA may give effect to benefit sharing by granting joint ownership of the intellectual property rights to the NBA or to identified benefit claimers. Share transfers, deregistration or listing are not among the manners listed in the Act.

  1. AGrant of joint ownership of the intellectual property rights to the NBA or to the identified benefit claimersCorrect
  2. BCompulsory transfer of the firm's entire shareholding to the State Government
  3. CCancellation of the firm's registration under the Companies Act
  4. DMandatory listing of the firm's shares on a stock exchange

Explanation

Section 21(2)(a) lists grant of joint ownership of IPRs to the NBA or, where benefit claimers are identified, to such claimers. The other options are not among the listed manners, which include technology transfer, location of units, scientist association, venture capital fund and monetary or non-monetary compensation.

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