Bangladesh has appointed Foley Hoag LLP, a US Law firm to pursue the legal process for obtaining patent rights for genome sequence of Jute. As per the official sources, Foley Hoag LLP shall provide legal support to Bangladesh in the total process until 2024-2025 at the cost of USD 8.25 Million (BDT 65 Crore approx).
Foley Hoag LLP has previously represented Bangladesh in International cases and Arbitrations, including the famous Bangladesh-Myanmar maritime border dispute case.
The Cabinet purchase committee approved the proposal of the Foreign Ministry in this regard, where the contract shall be given a retrospective effect from 2010-2011.
In 2010, a consortium of Bangladeshi researchers led by Dr. Maqsudul Haque successfully did the draft jute genome sequencing. Bangladesh is the second country after Malaysia among the developing nations in this kind of achievement.
Source – Financial Express