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Seabed is not a lawless realm, but almost

Bioprospecting in the seabed within territorial limits is currently regulated by the UN Convention on the Law of the Sea (UNCLOS), which determines states' jurisdiction, rights and obligations in the oceans, as well as in the Convention on Biological Diversity, which governs access to genetic resources and benefit-sharing.

While most countries have regulations on marine scientific research in their waters and seabed, only a few have legislation regulating access to and exploitation of their marine and other genetic resources.

Many of the world's unique seabed ecosystems lie in international waters beyond national jurisdiction with no international rules. And no state has yet adopted measures addressing bioprospecting undertaken by its nationals in international waters.

The UNU-IAS report identifies shortcomings in UNCLOS, the Convention on Biological Diversity and intellectual property rights instruments governing access and benefit-sharing to genetic resources. These include the need to:

* Establish whether describing the sequence of a genome can be considered an invention;
* Define bioprospecting;
* Develop criteria and guidelines to help states determine the implications of marine scientific research;
* Decide if marine scientific researchers/academia and private companies should be treated differently in access to deep seabed genetic resources.

Designing a regime for bioprospecting in the deep seabed

The report says regional agreements could be used as a first step towards a comprehensive international regime to protect the deep seabed from over-exploitation.