How Might Biotechnology Increase the Market Power Held by Large Corporate Farms and Big Agri-Business?
Most of the biotech crops on the market today have required years and years of expensive scientific research and strict passage through a strict regulatory process. Consequently, most genetically engineered seeds are protected under patent and licensing restrictions to assist the companies in protecting their “intellectual property”. For a biotechnology firm to develop and deliver a seed or other GMO to market, it must have a very large research, marketing and distribution network. Right now, only the very large and well-established agribusiness companies have such networks to be successful on the commercial market. Therefore, the required regulations and broad patent protection raises many barriers to entry and promotes greater market concentration, as fewer and fewer firms control more and more of the biotech market. A recent example is the acquisition of Pioneer Hi-Bred (the world’s largest seed producer) by DuPont (a major agribusiness and agro-chemical producer). To minimize the h
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- How Might Biotechnology Increase the Market Power Held by Large Corporate Farms and Big Agri-Business?
