Farmers across Thailand are celebrating in the wake of a new law passed by the Thai National Legislative Assembly that legalizes marijuana for medicinal purposes.
Marijuana was formally listed as a traditional herb by the Thai government up until 1970 when it was made strictly forbidden in the Kingdom.
Now though, farmers may finally be able to grow cannabis again and reap the rewards of a new industry.
But not everyone believes that the impending marijuana boom in Thailand will better everyday Thais.
According to Thailand business lawyers, small and medium-sized farmers will only be able to enjoy the fruits of medical marijuana legalization if the Thai government keeps its promise to block multinational companies from patenting their own medical cannabis extracts and products.
As of now, many foreign companies with existing cannabis research, experience, and technology have applied for medical weed patents in the country. None of their patents have yet to be revoked.
If outside companies are allowed to patent certain medical cannabis extracts, they could forbid universities and government agencies from doing research as well as capitalize off the profits while small Thai businesses miss out.
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