Ethnopharmacological information is an important component in both traditional health systems andfor future medicine development. Biodiversity-rich countries, indigenous cultures with their knowledge of theuse of biosources as medicines and companies that seek to discover new therapeutics through medicinalplants and traditional knowledge are on the way sharing common interests. The value of plants for medicinesis more widely recognized and the “intellectual property rights” (IPR) connected with their use have beendebated worldwide. “Convention on Biological Diversity” (CBD) which was signed in Rio in 1992, enforcesprotection of the rights of local people and local knowledge as well as conservation of the biologicalresources which forms the basic of all those health systems. Thus, conservation of local and indigenouspeoples’ rights over their knowledge and resources are an important element of all contemporaryconservation approaches.Generally, the intellectual property rights are protected under the patent systems inmany countries, whereas access to such legal procedures are not easily available for most of the indigenouscommunities. Present and future perspectives on the subject are discussed in this article.