On May 24, 2024, the World Intellectual Property Organization (WIPO) member states adopted a groundbreaking new treaty related to intellectual property (IP), genetic resources, and associated traditional knowledge.
- Historic Breakthrough: The treaty marks a historic breakthrough after decades of negotiations. It is the first WIPO Treaty to address the interface between intellectual property, genetic resources, and traditional knowledge.
- Inclusion of Indigenous Peoples and Local Communities: This treaty includes provisions specifically for Indigenous Peoples as well as local communities. It recognizes their role in the protection and management of genetic resources and traditional knowledge.
- Disclosure Requirement for Patent Applicants: Once the treaty enters into force with 15 contracting parties, it will establish a new disclosure requirement for patent applicants whose inventions are based on genetic resources and/or associated traditional knowledge. This requirement aims to ensure transparency and fair benefit-sharing.
- 25-Year Negotiating Journey: Negotiations for this treaty began at WIPO in 2001, following a proposal by Colombia in 1999. The inclusion of Indigenous Peoples and local communities was notable during these discussions.
- WIPO Director General Daren Tang welcomed the adoption of the treaty.
Q: What key aspect does the new WIPO treaty address for the first time?
A. International trade tariffs
B. The interface between intellectual property, genetic resources, and traditional knowledge
C. Global internet regulations
D. International labor laws
Answer: B. The interface between intellectual property, genetic resources, and traditional knowledge
