This book is about the governance of marine protected areas (MPAs). In particular it is about two forms of governance – co-management (CM) and adaptive co-management (ACM) – which, we argue, have been applied to the Cayos Cochinos Marine Protected Area (CCMPA) in Honduras by means of two successive management plans in 2004-9 and 2008-13 respectively. The distinctive feature of CM is that it incorporates the governed as well as the government in the decision-making process and decentralizes decision-making to include the users. The distinctive feature of ACM is an active and dynamic process whereby the decision making process is continuously responsive, through learning processes, to the changing ecological and socio-economic circumstances within the social-ecological system. An extensive and critical analysis of the concepts of CM, AM and ACM, and their relationships to each other, is carried out in this book before being applied to the case study of the CCMPA. When examining the two modes of governance of the CCMPA, the book investigates, first, how far they met the three main objectives of ecological health, socio-economic well being, and good governance; and second, to what extent the first management plan fulfilled the criteria of co-management, and the second management plan fulfilled the idea of adaptive co-management.