This Article examines policies that will embody the fairness essential for publicly supported biobanks to succeed. Part I discusses access to data and resulting research findings for approved researchers after a reasonable period of exclusivity. Part II addresses experimental use of patented discoveries for approved researchers. Part III discusses non-monetary benefit sharing for participants. I also examine recent legal developments, how selected biobanks address these issues, and additional considerations for public biobanks and their government partners in formulating intellectual property policies.