Cover PageBiopiracy and Bioprospecting (Chart)Managing in a Global EconomyMSOM 305 Summer 2010Special Presentation PaperTeam Group Project:/Cover1. introduction (stephan done; someone please proofread and initial) One of the hot topics currently around the world, besides the oil spill and war in the Middle East, concerns biopiracy and bioprospecting. Drastic measures are currently being taken around the world in various countries attempting to protect that country's indigenous knowledge in the battle. International companies or even private entrepreneurs seek to obtain a share of the natural resources found in foreign countries and market them for either financial gain or other causes. With the worldwide process of human globalization and the merger of small businesses into larger enterprises. The amount spent on research to find new medicines and new ways to improve daily life is highly sought after. This all boils down to protecting the knowledge of elders that has been passed down from generation to generation and often kept "secret" from Western society and its corporations. There are many different views on legality and ethics that are brought to light with some of these cases and how some companies operate. In this article we will try to give an overview and provide some case examples and delve deeper into the world of biopiracy and bioprospecting.1. bioprospecting vs biopiracy (seb- DONE, stephan's draft: sounds good)1. Bioprospecting and biopiracy both involve the extraction of biodiversity material or techniques unique to an indigenous area that have been patented and produced to support... middle of paper... a moral as well as monetary problem. . When a company is engaged in bioprospecting, all profits or even a portion of the profits should be shared with the country of origin. By taking a natural resource and marketing it internationally without compensation or even acknowledgment of its origin, many companies would be committing plagiarism in university terms. However, since this goes far beyond any college campus, it is simply theft and completely unacceptable in today's society. With the amount of international laws in place and the world growing together, any company engaged in bioprospecting must be able to respect native rights and share at least part of the profits, if not all of the profits, with the native country. benefit them in some way.1. references1. http://www.kahea.org/gmo/pdf/bioprospecting_people.pdf