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This article aims to examine the relationship between the concepts of intellectual property, biodiversity, and indigenous knowledge from the perspective of food security and farmers’ rights. Even though these concepts are interdependent and interrelated, they are in a state of conflict due to their inherently enshrined differences. Intellectual property is based on the need of protecting individual property rights in the context of creations of their minds. On the other hand, the concepts of biodiversity, indigenous knowledge and farmers’ rights accentuate the aspects of equity and community. This article aims to analyse and critically assess the respective legal framework and identify the points of conflict. Taking into account the realities of the current globalized world, these concepts are explored in a broader context of the North-South divide and sustainable development. To examine the core divergences between these concepts, the article takes also into account their philosophical underpinnings and justification theories with the aim to confront them with the realities and needs of the current world. Being aware of the different cultural traditions in the East and West, this article intends to enrich the academic discourse in this field by looking at these issues through the lenses of the Eastern tradition.