Human intellect and creativity, if applied in the field of biotechnology, would result in a number of creative pursuits leading to remarkable innovations. Biotechnology is also used as a popular term for the genetic technology of the twenty-first century. Although it has been utilized for centuries in traditional production processes, modern biotechnology is only about 50 years old, and in the last decades, it has witnessed tremendous developments. One of the most important issues that has been raised due to the emergence of modern biotechnology is the legal characterization and treatment of intellectual creations described as intellectual property.