A search on any World Wide Web Search engine will yield a large number of commercial sites selling products based on its medicinal properties. Additional information on the material is found in the Apitherapy Reference Data Base . Propolis is complex stuff to begin with, and because it is collected by honey bees and not produced by them, it is extremely variable across geographic regions. Thus, to try to develop standards is a daunting task. According to the authors from Bulgaria, V. Bankova and M. Marcucci, A modern standardization of propolis should be based on plant sources.
Volatility is useful, too, as it can determine product freshness.
Biological and biochemical tests can also determine the potential activity of every batch. The approach they propose includes systematic investigations of the chemistry and biological action of propolis in a great many regions of the world and is only posssible with the joint efforts of many scientists, beekeepers, the public, national and international organizations, and governments. To my knowledge the only country with published regulations is Brazil. A recent post to Apitherapy-L from Eng. Paulo R. Reis de Oliveira elaborated on these particular standards.