RESILIENCE MEASURES FOR FAIR AND EQUITABLE BENEFIT SHARING OF TRADITIONAL KNOWLEDGE

The Article is related to various forms of traditional knowledge belonging to indigenous communities in western ghats. Traditional knowledge includes innovations, expertise, know-how, medicinal properties, skills and various other components developed by various indigenous communities and passed from generations to generations. These communities are using these pieces of information as a part of their livelihood. When this traditional knowledge is exploited for commercial and industrial purposes, these communities have to be adequately compensated. They have to be consulted and have to ensure fair and equitable benefit sharing of traditional knowledge. Biopiracy is a serious emerging threat to this traditional knowledge and it is considerably affecting the rights and interests of indigenous community, who are developers and custodians of this traditional knowledge. There is misappropriation of traditional knowledge without giving benefit to the parties who had developed such a treasure of knowledge. Nagoya Protocol and Convention on Bio- Diversity mandates fair and equitable benefit sharing of traditional knowledge.The legal regime for protection as well as fair and equitable benefit sharing of traditional knowledge is still inadequate. Many forms of traditional knowledge are not yet documented. TKDL (Traditional Knowledge Digital Library) is having the database of documented information only.Therefore, here article tries to analyse existing legal mechanism for protection of traditional knowledge and will make recommendations for improvement of legal regime.