Individual transferable quota (ITQ)

Individual transferable quota (ITQ) is a form of catch-sharing management used in fisheries to limit total catch levels. Under a quota system, certain predetermined number of fish can be caught. This quota is divided among all fishers, who are given a fixed amount or effort of fish or individual fish that they are allowed to catch. These quotas may be transferable, meaning that fishers can buy and sell their catch allotments. This market-based approach to fisheries management helps to ensure that the total catch remains within a predetermined limit and helps to reduce overfishing and increase profits for fishers.