Today, scientists can do amazing things with genetic material, the road map of life. I assure you, that will be the key factor as to how this widely this type of technology is used. Then, there's the current research with human genes. They are discovering ways to manipulate those genes, affecting the way they manifest themselves in the body. The potential for good is encouraging.
Genetic manipulation can spare a person the pain and suffering from an inherited disease.
It can be used to combat cancers. The genes are yours for the asking if the price is right. Practically, huge amounts of capital are needed to continue gene research to combat cancers and diseases. Morally, that need must be balanced against the sanctity of life. And personally, I bristle at thought of someone claiming to ''own'' a certain life form, especially if that form is human.