Professional norms can take precedence over social expectations. Sometimes, these norms are ahead of societal expectations and therefore the fairness follows the just norms. However, sometimes, reverse is the case. When sati was outlawed, it was enactment of justice which was considered by many believers in this practice as an unfair interference in their customs. In this case, therefore, the justice was perceived to be unfair. But in the case of knowledge domain, because of the dominant practice of professionals collecting the knowledge of people without attribution, reciprocity or acknowledgement, a just practice became actually an unfair practice. Legally, if the rights of the people to their traditional knowledge are not recognized, then it is not unjust system to exploit that knowledge. But this is certainly an unfair system. In this paper, I deal with the issue of Prior Informed Consent and the ethics underlying the knowledge exchange between formal and informal system. The criteria for assessing the adverse consequence from knowledge providers are discussed in the context of Rawlsian framework. Similar consequences are conceptualized for knowledge seekers. It is debated that whether motives could have a bearing on the outcomes or the consequences. The relationship between knowledge, institutions, ethics and culture is briefly reviewed to discuss what exactly is the normal behaviour among scholars. The policy implications of the work with particular reference to intellectual properly rights are identified.