**2. World intellectual property organization (WIPO)**

World Intellectual Property Organization (WIPO) is specialized agency of United Nations which was established in 1967, dedicated to the promotion of innovation and creativity for the economic, social and cultural development of all countries through a balanced and effective international IP system. The organization reinforces the protection of intellectual property rights, genetic resources, Folklore and Traditional Knowledge [2]. WIPO is a driving force for the international harmonization of intellectual property standards. WIPO provides a global policy forum, bringing together governments, business groups and civil society to address growing IP issues. Worldwide Protection of intellectual property and assurance of administrative cooperation among the intellectual property unions are the two main objectives of WIPO [15].

*Intellectual Property Rights: Bioprospecting, Biopiracy and Protection of Traditional Knowledge… DOI: http://dx.doi.org/10.5772/intechopen.99596*

WIPO's annual study of intellectual property (IP) activities around the world is known as the World Intellectual Property Indicators. This reputable publication examines global IP activity reports. Based on 2018 filing, it covers patents, utility models, trademarks, industrial designs, microorganisms, plant variety protection and geographic indications [15]. Most international conventions pertaining to intellectual property rights are administered by the World Intellectual Property Organization. The Patent Law Treaty and the Patent Cooperation Treaty (building upon the Paris Convention for the Protection of Industrial Property) facilitate the harmonization of patent laws internationally. WIPO has played a key role in the politics and discussion surrounding IP, traditional knowledge, and biodiversity, while being disregarded by many authors and campaigners. WIPO has created a rhetorically important, but slow-moving forum in the Intergovernmental Committee on Intellectual Property and Genetic Resources, Traditional Knowledge in the realm of genetic resources and traditional knowledge (IGC) [15–17].
