Rausser and Small demonstrated that, when sequential-search bioprospecting
procedures optimize useful available information, high-probability leads command information rents that contribute to the chance of success and, more importantly, to the avoidance of search costs.
Key findings of the Bioprospecting
and Biotrade Market-Sizing in South Africa have provided an insight into the manner in which value is being added to the country s biodiversity and the extent that it is sought after by domestic and international markets.
Millum's simplified economic model of bioprospecting
is useful but conflates the economic implications of access to resources with sharing traditional knowledge.
A PIC requirement that obliges GR users to seek consent from GR providers before accessing the resources in question may reduce the effects of biopiracy and unchecked bioprospecting
that disrespect the free will of GR providers.
is "[t]he exploration of wild biodiversity in search of useful resources.
Panama's General Environmental Law requires previous consent of indigenous communities for bioprospecting
, but, said Hererra, "the investigators have avoided the consultative process by going directly to a person in the community possessing knowledge of traditional medicine and buying information.
Last speculates that perhaps the recent interest in understanding biodiversity and the bioprospecting
potential of many of our natural resources, will fuel a much needed resurgence in taxonomy--including the grooming of a new cohort of taxonomists.
The high cost and technical difficulties of identifying and obtaining marine samples, the need for novel screening technologies and techniques to maximize recovery of bioactive compounds, and difficulties in identifying a sustainable source or an organism for clinical development and commercial production are among the primary factors limiting marine bioprospecting
The concept of bioprospecting
denotes the prospects for making beneficial and equitable contracts for access to genetic resources between local communities and transnational corporations.
A federal court has ruled that Yellowstone National Park's 1997 agreement with the Diversa Corporation to share scientific data and royalties from the company's bioprospecting
research is valid.
In return for this bioprospecting
right, Diversa would pay Yellowstone $175,000 over 5 years and share up to 10 percent of the profits from any products--such as heat-resistant enzymes--that resulted from the research.
She notes that a United States bioprospecting
group collected 204 pounds of a marine acorn worm just to isolate one milligram of an anticancer compound.