Biopiracy is the illegal appropriation of life --
microorganisms, plants and animals (including humans) -- and the
traditional cultural knowledge that accompanies it. Biopiracy is
illegal because, in violation of international conventions and
(where these exist) corresponding domestic laws, it does not
recognize, respect or adequately compensate the rightful owners of
the life forms appropriated or the traditional knowledge related to
their propagation, use and commercial benefit. Biopiracy commonly
operates through the application of Intellectual Property Rights
(IPR) (primarily patents) to genetic resources and traditional
knowledge.
For more see the link below.