Traditional Ethno botanical Knowledge (TEK) represents a cumulative body of knowledge, practice, and belief regarding the relationship of living beings with their environment. While this knowledge is a cornerstone for modern pharmacology and agriculture, it is increasingly threatened by bio piracy—the unauthorized commercialization of biological resources and associated indigenous knowledge without fair compensation. This paper examines the critical intersection of biodiversity conservation and Intellectual Property Rights (IPR). It explores how international frameworks, such as the Nagoya Protocol and the Convention on Biological Diversity (CBD), attempt to regulate Access and Benefit Sharing (ABS). Through a qualitative and quantitative assessment of regional flora and indigenous practices, this study identifies the gaps in current legal protections that allow bio piracy to persist. The research proposes a multi-layered framework for "Equitable Benefit Sharing," emphasizing the role of Digital Sequence Information (DSI) and community-led bio cultural protocols. The findings suggest that documenting TEK through People’s Biodiversity Registers (PBRs) and implementing block chain-based tracking can safeguard communal intellectual property. Ultimately, this paper argues that protecting biodiversity is inseparable from protecting the cultural rights of the knowledge holders.