Traditional knowledge, community rights and access to benefit sharing of biological resources are emerging Issues after Convention on Biological Diversity (CBD) entered into force. This paper highlights legal system of access to benefit sharing in CBD and efforts made so far to protect traditional knowledge by the legal documentation of biological resources and traditional knowledge associated with it. The paper advocates bioprospecting as a forward looking opportunity to convert natural resources into biological capital and highlights role and responsibility of local people to make equitable sharing of the benefits from the resource they conserve and knowledge they hold.
