Abstract

The biological activities have skyrocketed as a result of the remarkable expansion of the bio-based industry. The marine biomes are an appealing target for biological in order to identify and develop potential drug molecules for human therapeutics because they contain a rich reservoir of unique life systems. From marine organisms, numerous drug molecules like ara-c, trabecetidin, and eribulin have been discovered. Sadly, pharmaceutical companies utilize traditional knowledge based on marine life that has been developed by communities at various stages of drug development without a mechanism for access and benefit sharing. One such model is the marine biological Fiji contract that represents the pretended by Fijian people group and the lacuna in access and advantage sharing components. The purpose of this study is to investigate how the benefits of using marine bio-resources can be shared fairly with local communities that hold marine traditional knowledge in marine areas. It provides a brief explanation of the various international protocols and conventions that place an emphasis on the creation of equitable benefit sharing mechanisms. Contracts for marine biological based on terms agreed upon by key stakeholders are the subject of the study. Marine biological contracts in the end should be modified according to the regulation of a country as a result of regional nature of regulation. In addition, the unique parameters of the activity, such as the economics of deep sea explorations, the continuous supply of samples, the jurisdiction of marine areas, and associated traditional knowledge, will make the marine biological contracts distinct from other biological contracts. The current review explains the idea of marine biological shrinks by considering India as a contextual investigation underlining sharing of advantages with conventional information holders as well as guaranteeing maintainable utilization of marine hereditary assets by the drug area.