biotechnology

I am the student of IPR laws.  Can anybody guide me on biotechnology?  Now-a-days biotechnology is part of human life.  What is the significance of IPR in biotechnology transfer?  Biotechnology field is enormously growing.  It is playing a significant role in the development of world economy.  I dont have data on this? Can anybody tell me about its role?  World companies are investing enormous amounts of money in R&D of biotechnology.  It will be waste unless they get patent rights of their inventions and innovations.  Then what is the role of IPR in Biotechnological invention transfer?