Given the growth of investments in and shift of regulatory views regarding cannabis-related products, many companies in industries like medicine, lifestyle and foods/beverages are looking to carve out niches and be leaders in the relatively new space. As with any new technology space, it is essential to have a robust intellectual property protection strategy to both establish and preserve one’s position as a dominant player in an emerging market. One important step that a company may take when creating such a strategy is applying for patents.
Over the past several years, cannabis has been one of the hottest areas of investment and innovation, with many states introducing legislation to legalize cannabis use in some form. Correspondingly, many companies have entered the U.S. market and are even listed on the Nasdaq or the New York Stock Exchange, leading to much interest on Wall Street. Many nascent industries have budded in the cannabis space, ranging from growing the cannabis plant itself to extraction processes to consumer products like vapes.