The biological resources and ecosystem services are not equally distributed and we all dependon these resources for our social and economic wellbeing and prosperity. But, the marginal and vulnerable groupsindeveloping countries whose livelihood depends mainly on the biodiversity are most affected byecosystem degradation and loss. However, these groups host and act asstewards of some of the world’s most significant biodiversity and critical ecosystems. The traditionally rich knowledge bearing developing countries have to bear the cost of conserving biodiversity to benefit spatially and socio-economicallyremote consumers, even though they are often left with only a very small share of thebenefits generated. In many cases, access and rights to land and natural resources are also beingprogressively transferred away from the more marginal and vulnerable groups who have traditionallymanaged and used them, thereby alienating them from their basic means of production, survival andsecurity. Not only is this inequitable, but many cases these groups and countries are the least able toafford to bear either the costs of conserving biodiversity for others’ benefit, or of losing the supply ofgoods and services that is so vital to their own economic survival and prospects for future growth. Now, the developing countries are also raising their voice in international arena and using Intellectual Property Rights to save their age old traditional knowledge.Of major concern in India is that the creation of an intellectual property rights system may threaten or undermine the rights and interests of indigenous peoples and communities. The Nagoya protocol on accessand benefit sharing of genetic resources is thus supporting biodiversity conservation and equity byguaranteeing that the benefits yielded by the use of genetic resources are fairly shared betweenthe providers, the local knowledge holders, and the users.

KEYWORDS: Sustainable, Intellectual Property, Traditional Knowledge, Patent.