I'm all for Frankenfoods as I'm pro-progress. Sure there's plenty of Science Fiction doom of the earth plots that can be speculated about as tampering with God's creation brings the wrath of the OmniDeath, but that's pretty darn unlikely
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"GMO's are often patented, copyrighted, trademarked, and branded as corporate IP in effective perpetuity by the companies that develop them."
How does a the development of such technology and foodstuff come about except by the spending of hundreds of millions of dollars? If private industry doesn't do it, frankly I don't believe it will happen at any reasonable pace.
If a company invests that kind of capital on a product- does it now have a right to reap the rewards commensurate with it's risks and forethought? How else *should* it be handled such that it is fair to the company, it's stockholders and the end users of the IP in question?
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