Governor Albet Bryan spoke about how the territory plans to incorporate patents when the Virgin Islands Public Finance Authority Board Meeting approved to pay the invoices of Duane Morris for legal services rendered surrounding cannabis at Virgin Islands on Thursday.
Mr. Bryan said “One of the key things in this cannabis bill that is not talked about that we included was for the ability of us to create patents of sorts in the Virgin Islands for national and international cannabis companies.”
He said that once the cannabis patents of these companies are registered in the Virgin Islands that the companies would be able to charge for use of their patented items. He compared it to how Kentucky Fried Chicken gets a commission for it’s corporate division from every one of their franchises. “That’s where the real money is in the cannabis bill.” Mr. Bryan said.
He was asked by board secretary, Keith O'Neale, to further explain the K.F.C connection and Mr. Bryan said “What I was talking about is, is to have branded cannabis products from the Virgin Islands so that wherever that branded cannabis product is sold internationally the commission comes back to the Virgin Islands.”
Mr. O’Neale was also curious about how this will affect business with drug-testing policies to which Mr. Bryan said that it would be similar to how Colorado deals with pilots and that companies would still be able to set policies for their employees.
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