Marijuana companies’ intellectual property is crucial – here’s how to protect it

The U.S. Patent and Trademark Office's main building in Alexandria, Virginia.

(This is an abridged version of a story that appears in the July issue of Marijuana Business Magazine.)

Marijuana products are ineligible for U.S. trademarks because the plant is federally illegal, but that’s not keeping businesses in the marijuana and hemp sectors from filing trademark and patent applications.

In fact, protecting intellectual property is something many cannabis companies should consider doing.

Not only can patents and trademarks and patents protect and enhance a marijuana company’s brand, but they can also increase the firm’s value, cannabis industry insiders told Marijuana Business Magazine.

“If you really have something novel, then you should be persistent,” said Constance Finley, founder of Constance Therapeutics.

In fact, her vape and extract processing firm in San Francisco has received two federal patents and has several pending trademark applications to protect Constance Therapeutics’ name and logos.

Hoban Law Group patent attorney Kevin Fortin, who is working with Finley on an intellectual property strategy, takes a forward look at protecting a company’s intellectual property:

“Trademarks insure your marketing dollars, and patents insure your product-development dollars. Both impact valuation when the wave of industry consolidation hits.”

It’s also important to keep in mind that the U.S. Patent and Trademark Office is under no obligation to conform its patent procedures to U.S. Drug Enforcement Administration regulations and policy.

Click on the links below to learn what the experts who spoke with Marijuana Business Magazine had to say about:

If you’re still questioning whether a trademark and/or patent is right for your cannabis business, Marijuana Business Magazine also looked at the types of companies and products that have undertaken the process.

One comment on “Marijuana companies’ intellectual property is crucial – here’s how to protect it
  1. Caleb Platt on

    LPs can patent/protect their cannabis IP by getting it genetically sequenced and registered through StrainSecure. StrainSecure just partnered with Shoppers Drug Mart to pilot a cannabis validation program. You should really check out this company. It will be interesting to see how they slowly take over the cannabis market.

    Their genetics lab partnership is with Light House Genomics who has the #1 cannabis genetics technology in the world. They hit over 3 million unique markers per strain that is sequenced. Phylos Galaxy is far behind by only being able to identify around 14,000 unique markers. All of this data get stored in the blockchain which makes it an immutable record. One day all medical (and rec strains) will be tracked and stored by StrainSecure. They will house the data of the industry

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *