The essay aims to demonstrate the significance of traditional knowledge in various fields be it agriculture, medicine, ecology, commerce, chemical industries, etc. The entire research project contends the effective remedies to tackle issues pertaining to grant patents to the exact owner of the traditional knowledge. The loopholes in the current legal system in the relevance to the patenting of traditional knowledge are briefly discussed. In the past few decades the role of traditional knowledge has immensely grown subsequent to which patenting it with the principle of justice, equity and good conscience has become a bone of contention. The essay moves forward with the hypothesis that legal documentation and sui generis system 1will be effective steps to grant patents to the rightful owners. The thesis is proved with historical illustrations like turmeric case. Finally the primary aim of the research is to suggest ways in order to grant the local communities the benefit of their innovation, novelty and creativity.