Use of bioresources by multinational companies and organisations without authorisation from the concerned country and its people is called

Biopiracy is term used for or refer to the use of bioresources by multinational companies and other organisation without proper authorisation from the countries and people concerned with compensatory payment (definition of biopiracy given in $NCERT$ ).

Use of bioresources by multinational companies and

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Concepts Used:

Applications of Biotechnology

Biotechnology is the technology that utilizes biological systems, living organisms, or parts of this to develop or create different products.

For example, brewing and baking bread fall within the concept of biotechnology (use of yeast (= living organism) to produce the desired product).

Agriculture

Alternative to conventional farming: A possible solution is the use of genetically modified crops which is an alternative path to conventional farming.

Medicine

In the area of healthcare, recombinant DNA technological processes have made an immense impact which enables the mass production of safe and more effective therapeutic drugs.

Gene Therapy

A collection of methods that allows the correction of a gene defect that has been diagnosed in a child/embryo is called Gene Therapy.

CRISPR technology

For editing genomes, CRISPR is a simple yet powerful tool which allows researchers to easily alter DNA sequences and modify gene function.