Since the ABS Management Tool (ABS-MT) was originally published in 2007, international law has been developed to regulate the utilization of genetic resources and associated traditional knowledge. With the support of the Swiss State Secretariat for Economic Affairs, the authors have updated the ABS-MT to accommodate new language of the Nagoya Protocol and to assist the users and providers of genetic resources to apply current best practices. The updated ABS-MT includes a new section providing guidance to the Parties to the Convention on Biological Diversity (CBD) to prepare for the introduction and further implementation of the Nagoya Protocol. The authors have further updated the original text and restructured and ABS-MT in light of the growing body of practical experience in ABS since the Management Tool’s original publication.