U. R. Sumaila, R. Watson, (2002). “The Rights to Fish – an Ecological Critique of Individual Transferable Quotas.,” Policy proposals and operational guidance for ecosystem-based management of marine capture fisheries (Resource Conservation Programme, WWF Australia, Australia
Individual Transferable Quotas (ITQs) are exclusive and transferable rights to harvest a given portion of the total allowable catch of fish. They are one form of ‘rights-based management’ used to manage the allocation of resources adn interactions between users of marine ecosystems. Fishery managers establish total allowable catch levels (TACs), and divide this among individual fishers or fishing companies in the form of individual harvest quotas, usually a percentage of the TAC. ITQs are transferable by being sold or purchased on the open market. In theory, ITQs can create de facto property rights. The accomplishments and problems of ITQ are discussed.