Bioprospecting is the exploration of biodiversity in search of new resources with potential economic value. Since the colonial era, bioprospecting has led to the innovation of many valuable medical and commercial products. However, the extraction of these natural resources has historically been linked to the exploitation of indigenous populations, known as biopiracy. This review of the Maya ICBG Biopiracy Controversy provides an in-depth exploration into the delineation between bioprospecting and biopiracy to reveal that the unfounded claims of biopiracy halted a potentially successful bioprospecting project.