Who owns marine genetic resources?

There are many organisms living in the seas that could serve as the basis for new products ranging from anti-inflammatories to drugs for cancers or AIDS, to biodegradable plastics. However, the legal status of the exploitation of these marine genetic resources in international waters poses political and ecological problems. At present, no international treaty provides a legal framework for the exploitation of these resources. This is why, last April, UN member states were working on a draft treaty.