This lecture emphasizes the significance of protein-ligand interactions in cellular processes, showcasing complex interaction networks in different organisms. It delves into the equilibrium constants, binding affinities, and energetic landscapes of binding reactions, providing insights into the relationship between affinity and specificity. The discussion extends to competitive inhibitors, drug development processes, and the impact on protein activity. Various examples illustrate the determination of binding constants and the role of structural information in drug design. The lecture concludes with a focus on the energetics of binding, highlighting entropic losses and gains in protein-ligand interactions.