Posts Tagged: "medical marijuana"

The Complicated Relationship Between IP Law & Cannabis

For the innovators capitalizing on the legal growth, distribution, and commercial sale of cannabis, the procurement of intellectual property rights can go a long way in the monetization of their ideas, products, and services. As with any new venture, solidifying an IP protection strategy early on can maximize the benefits of a new invention and minimize risk the of potential infringement. This rings especially true in a field where so few patents, copyrights, and trademarks have been issued… It is not impossible to secure IP rights on cannabis-related inventions, but there are a number of factors to consider and a number of complexities to be aware of.

Uncertain legal status of financial transactions in marijuana industry lead to bitcoin, cryptocurrency development

Increasingly, bitcoin and related cryptocurrencies are becoming the choice for most financial transactions within the nascent marijuana industry as the sector increases in value. North American marijuana sales reached $6.7 billion during 2016 and were expected to rise up to $20.2 billion annually by the year 2021… The USPTO published 390 patent applications related to blockchain tech, the underlying distributed ledger technology supporting bitcoin and other cryptocurrencies, between January and July of this year. That represented a 90 percent increase over the number of blockchain-related patent applications published during the same period in 2016.

AXIM Biotech earns patent for chewing gum containing cannabinoids to treat neurodegenerative diseases

The patent space surrounding marijuana formulations for medical use is still wide open despite the current march towards legalization. According to patent portfolio analysis tools available through Innography, there are a total of 66 U.S. patent grants and 62 U.S. patent applications related to medical marijuana. As the pie chart here will show readers, the top three asset holders in this space are La Jolla, CA-based Auspex Pharmaceuticals (NASDAQ:ASPX), Leidos Holdings (NYSE:LDOS) and the University of Connecticut… In the middle of November, New York City-based biotech firm AXIM Biotechnologies (OTCMKTS:AXIM) announced that it had secured a new patent grant claiming the use of all cannabinoids in controlled-release chewing gum products containing cannabinoids.

How Can You Protect Cannabis-based Intellectual Property Under Federal Prohibition?

What started as a curiosity in Colorado and Washington state in 2012 could have gained the momentum of a juggernaut: marijuana legalization. Now with California and other states passing initiatives to fully legalize recreational marijuana use in November 2016, a new multi-billion-dollar industry could be in the offing. Inventors are already at work on new methods of delivering THC in stronger and safer doses… But with cannabis still on the federal DEA Schedule I of controlled substances what can these idea people do to protect their intellectual property?… Ironically, the USTPO has granted a patent on certain cannabis strains to a California biotech institute even as it has disallowed marijuana-related trademarks.

Wall Street Journal Profiles Medical Marijuana, but not Important USPTO Issues

Earlier today the Wall Street Journal gave front page space to a story relating to the United States Patent and Trademark Office. Widely regarded as one of the “papers of record” in the United States, one might expect that the Wall Street Journal had brought its considerable clout to an important issue plaguing our time, such as an horribly under funded Patent Office that is holding innovation hostage, costing America perhaps millions of jobs. NO! Don’t get me wrong, every tabloid should have front page news story about pot, medical marijuana and have an image of a VW bus over the tag “the Canny Bus,” as the Journal did earlier today. Call me crazy, but I expected more from the Wall Street Journal.