Since the overthrow of its last ruler Siad Barre in 1990, Somalia’s conditions have worsened and, barring a few islands of peace, are degenerating rapidly; its waves of insecurity surge beyond its shores. Piracy off Somalia is a consequence of its present volatile insecurity on shore, and 20 years of conflict resolution efforts have come to naught. As piracy increases and anti-piracy operations intensify, efforts at finding lasting peace on shore have run aground. Based upon the successful process of the United Nations Conference of the Law of the Sea, the time is now ripe to jettison moribund processes and pursue viable alternatives, which the combined efforts of the nations of world, corporate institutions and civil society can effect through a world conference designed to address the issue of all failed states.