Biopiracy of multinationals, the practice of patenting and marketing the use of traditional knowledge and genetic resources of indigenous peoples without authorization from source countries, must be fought by the EU according to the European Parliament.

MEPs at plenary session approved a resolution which calls on the EU to combat the "biopiracy" of multinationals that exploit plants with medicinal properties and traditional remedies originating from developing countries but fail to share the profits with indigenous peoples. According to them, this practice can impede the economic progress of developing countries and runs counter to EU development policy goals. In October 2012, the European Commission made a proposal to tackle 'biopiracy' and facilitate nature-based research.

MEPs also pointed out that existing intellectual property law can have adverse effects, as it assesses traditional knowledge solely from a mercantile point of view. To prevent biopiracy, MEPs urge that the grant of a patent be made conditional upon a requirement to disclose the origin of genetic resources and traditional knowledge used in inventions and provide evidence of consent from authorities in the provider country and also evidence of fair benefit sharing.

Biopiracy is the practice of patenting and marketing the use of traditional knowledge and genetic resources of indigenous peoples without authorization from source countries. The European Parliament highlighted that 70% of the world’s poor depend directly on biodiversity for their survival and well-being.