This paper reviews marine biodiversity, coastal communities' traditional ecological knowledge systems (TEKS) and the biodiversity they have conserved, and the industrial exploitation of marine genetic resources; it then analyzes TRIPS and the CBD as applied to marine biodiversity, and the implications of TRIPS and CBD for both coastal States and fishing communities’ access to marine resources, control over their knowledge, and share of the benefits; lastly, it ends with some proposals for further research and action by the ICSF.