Traditional medicine is indigenous medicine, used for the purpose of maintaining health as well as preventing, diagnosing, and treating physical and mental illnesses differently from allopathic medicine on the basis of experiences, theories and beliefs. In Japan, 60–70% of allopathic doctors prescribe traditional medicines for their patients, and these medicines are branched into the “kampo medicine”, and traditional medicine indigenous to Japan. It is a significant aspect in societies which consider it to be a reliable remedy as it is sustained and passed on from generation to generation within a community, unfortunately not being easily protected by the existing intellectual property system, and is being taken into high consideration for global health care demand so as to cater to public health requirements in developing nations.Traditional medicines are already excessively valued and salient in the international industry, and the efficacy of genetic resources and traditional knowledge is being examined by the biomedical sector. Due to their significance, the documentation and protection of these medicines is turning into precedence.The “Nagoya Protocol” on Access and Benefit Sharing was initiated in 2010 as a supplemental treaty to the 1992 Convention on Biological Diversity (CBD), with objectives pertaining to the conservation of biodiversity, equitable sharing of benefits derived from commercial use of genetic resources and sustainable use of components of biodiversity.In order to abate the loss of earth’s flora and fauna, the CBD was established at the UN Earth Summit in Rio de Janeiro, Brazil. The most crucial element in the CBD for developing countries rich in biodiversity is sovereignty over resources by nation states as the treaty acknowledges their right to regulate and charge outsiders for access to their biodiversity. The purpose of sovereignty is to alter the “common heritage” stereotype, which results in unrestricted access to biological resources, hence benefiting all involved interest groups. Furthermore, traditional medicinal knowledge marketing revenues were considered to alleviate poverty and to finance conservation efforts. However, ethnobotany, which was previously viewed to potentially help salvage declining traditional knowledge and biodiversity—had developed into method of theft and “bio-piracy”, wherein international pharmaceutical corporations utilize traditional, local or indigenous knowledge, without recognizing it as intellectual property of indigenous individuals. Therefore, profits have accrued solely to the pharmaceutical companies. Consequently, indigenous people merely benefit, regardless of their efforts.Just accreditation and equitable distribution of financial gain from the commercialization of traditional medicine is being demanded by Traditional knowledge holders. Subsequently, such individuals and countries possessing ample genetic resources are urging for further protection through intellectual property protection systems Traditional medicine may be ancient and contemporary, possibly written or non-codified. Regardless, it is a form of Intellectual Property which is to be given priority in being protected. Japan believes that it is necessary to research into safe and effective Traditional Medicine as well as Complementary Alternative Medicine treatments for severe diseases, especially in LEDCs. It is also important to develop the skills of Traditional Medicine practitioners in developing countries by providing them with the fundamental education pertaining to it, for which Japan is willing to provide financial aid in initiating. Furthermore, Japan encourages legislation to be implemented against organizations using indigenous traditional medical knowledge without acknowledgement by penalizing them with financial forfeiture based on the rate of revenue, and imprisonment for a minimum of 3 years upon repetition of such an act.