Explanation:

The CBD's 10th Conference of the Parties, in Nagoya 2010 adopted an international legally binding protocol on access to genetic resources and benefit-sharing-the Nagoya Protocol. The Protocol aims to implement the CBD's third objective on access and benefit sharing, and is binding on user countries as well as provider countries. In the first option, distiction needs to be drawn between bioprospecting and biopiracy.
While bioprospecting is the process of discovery and commercialization of new products based in biological resources. Biopiracy, on the other hand, is the misappropriation of bio-resources and
traditional knowledge by companies or institutions that use it to manufacture products which are then marketed with protection of the intellectual property rights (IPRs) without permission from and with little or no compensation or recognition to the indigenous people themselves. The protocol saves source countries from "foreign illegitimate bioprospecting". The Nagoya Protocol also covers traditional knowledge (TK) associated with genetic resources that are covered by the CBD and the benefits arising from its utilization.