The biological and chemical diversity of nature represents a source of new medicines and products for agriculture and industry. Today, countries and institutions use the guidelines offered by the Convention on Biological Diversity and recent advances in biotechnology to implement bioprospecting programs that benefit the conservation and sustainable use of biological resources. Bioprospecting is a complex and long-term undertaking that requires careful management of bioprospecting frameworks, favorable macropolicies, biodiversity inventories, information management systems, technology access, and business development. it requires the creation of interdisciplinary and multidisciplinary teams and scientists, lawyers, conservation managers, and business developers. Benefits also need to be distributed in order to build biotechnology capacity and improve biological resource management and conservation. At the same time, bioprospecting is an instrument that, supported by science and technology, can improve national capacities, support economic growth, and generate financial resource for conservation activities.