1. The term has been defined as "an approach that takes major ecosystem components and services - both structural and functional - into account in managing fisheries. (continues) It values habitat, embraces a multispecies perspective, and is committed to understanding ecosystem processes. (continues) Its goal is to rebuild and sustain populations, species, biological communities and marine ecosystems at high levels of productivity and biological diversity so as not to jeopardize a wide range of goods and services from marine ecosystems while providing food, revenues and recreation for humans" (Anonymous, 1998).; 2. Ecosystem-based management is an approach that takes major ecosystem components and services - both structural and functional - into account in managing fisheries. It values habitat, embraces a multispecies perspective, and is committed to understanding ecosystem processes. Its goal is to achieve sustainability by appropriate fishery management. (US National Research Council (1999)).; 3. The overarching principles of ecosystem-based management of fisheries (continues) aim to ensure that, despite variability, uncertainty and likely natural changes in the ecosystem, the capacity of the aquatic ecosystems to produce food, revenues, employment and, more generally, other essential services and livelihood, is maintained indefinitely for the benefit of the present and future generations (continues) to cater both for human as well as ecosystem well-being. This implies conservation of ecosystem structures, processes and interactions through sustainable use. This implies consideration of a range of frequently conflicting objectives and the needed consensus may not be achievable without equitable distribution of benefits.