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 Difficulty in sampling the huge diversity of resources;  Potential high cost of sampling some of these;  The consequent preponderance of public funding for Research and Development;  The complexity of property rights under marine governance mediated by UNCLOS;  The lack of clarity on the mechanism for benefit sharing particularly in marine systems re Nagoya;  The uncertainty of the status of genetic resources in Areas Beyond National Jurisdiction;  The dependence upon SMEs to translate R&D results into a marketable product for commercialisation;  The high risk and vulnerability of SMEs; and  Problems of economic data availability within a poorly defined sector. Study in support of Impact Assessment work on Blue Biotechnology 55

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