Psilocybin mushrooms are at the center of a new psychedelic industry. Once formerly banned or heavily regulated, which limited clinical research into the active compounds' psilocybin and psilocin. However recent research has thrust this botanical and its active compounds are into the limelight and is building the foundation for promising medical therapies, particularly in the mental health space. This resurgence comes at a time being hailed as the “psychedelic renaissance” as an explosion of exemptions are being granted for psychedelic research, and promising studies are being published.1 One study showed psilocybin helped 40 out of 51 patients with life-threatening cancer reduce their depressive and anxiety levels by over 50%, for up to 6 months with just a single dose.2 Another study found similar to LSD, psilocin is a 5-HT2A agonist, which causes epigenetic modifications that promotes the formation of cell growth proteins in mice. This might explain the increased neuronal growth that has been associated with psychedelic drugs.3,4 In order to validate these studies, the precise quantification of the compounds and methods used under the study is required. And the literature has not yet found an agreement on the best method to use. We present an overview of the current literature, and discuss methods we developed to produce robust and reliable results. Furthermore, it is important to track the IP space around psychedelics. Compass Pathways, one of the first public for-profit psychedelic companies, was recently granted a patent for a crystalline form of psilocybin they named Polymorph A.5 A patent grants the right to exclude others from the use of that crystalline form.6,7 Now this patent is being challenged. But what does that mean? And why should people care? Lastly we discuss how companies are attempting to monopolize the use of psilocybin through the patenting process.