WIPO approves a new treaty on IP, genetic resources and traditional knowledge

On 24 May, the World Intellectual Property Organisation (WIPO) approved a new Intellectual Property Treaty on Genetic Resources and Associated Traditional Knowledge, which aims to increase transparency and prevent the misuse of patents on these resources and knowledge.

This treaty will introduce into international law a new disclosure requirement for patent applicants whose inventions are based on genetic resources, such as medicinal plants and agricultural crops. Applicants will have to disclose the origin or source of such resources.

Its Article 17 states that it will enter into force three months after ratification by all 15 contracting parties, including Colombia, which took the lead in introducing the issue more than 20 years ago, Brazil, Chile and Peru.