Legislative Changes Related to Cannabis and Industrial Property Rights on Deforestation and Investments (Published)
This paper analyzes how deforestation and investments are influenced by the legalization of cannabis products for medical/industrial and recreational purposes, as well as their possible protection with Designation of Origin, and Geographical Indication. The long history of illegal cannabis-related activity and the consequences of such activity in the economy, society, and ecosystem during the last decades, the considerations of this paper are of high interest for new business opportunities, expanding or changing existing business objectives, and revitalizing affected forests. A questionnaire via electronic means was spread to gather the data while the logit model and its marginal effect were applied to obtain the results and analyze this influence. Investments in the field of cannabis for medical/industrial and/or recreational purposes appear to be more sensitive to this change, whether the preservation of the ecosystem seems not to be positively influenced. The actual legislative change and a potential future one do show significance, contrary to the industrial property rights, showing the need for further awareness of the benefits of these instruments for the economy. The findings interest economists, pharma and other relevant business fields, policymakers, and scientists in Albania, the region, and worldwide.
Keywords: Business, IP, Legalization, Sustainability, forests, pharma