Biomimetics, bioinspiration, biomimicry, and related nature-inspired activities – collectively known as biom* – are witnessing an unprecedented surge in popularity, as they offer unparalleled opportunities for technological advancement, innovation, and sustainable development. The growing prevalence of biom*, however, has sparked moral debates regarding their approaches, emphasizing the need for universally applicable ethical guidelines that can effectively guide practitioners in their work. In this Perspective, we outline some of the moral, ethical, and legal challenges associated with biom*, particularly the scientific discipline of biomimetics, focusing on various issues surrounding our motivations for pursuing these approaches, the valuation of nature within them, and regulations in the commercialization of biological knowledge. By highlighting the challenges inherent in biom*, this Perspective aims to empower practitioners in the field to make informed decisions and take purposeful action. Specific recommendations are provided to guide them in choosing the right course of action for the right reasons.