The cannabis industry has experienced consistent growth over recent years, leading to substantial investment and an increase in the industry's commercial relevance. This momentum shows no signs of slowing down, as states across the country continue to develop medical and adult-use use programs, and brands find innovative ways to navigate and thrive in a constantly evolving market and legal landscape.
Given these trends, it seems clear that the cannabis industry is poised to expand further, becoming an even more significant economic force and driving additional innovation and investment in the years to come.
On any given day, cannabis brands are navigating a complex web of state and local laws, health and safety regulations, consumer protection risks, and the harsh reality that cannabis remains federally illegal. Under these circumstances, it is understandable that intellectual property (IP) protection is often overlooked. Additionally, the various types of IP assets and the complexities of obtaining and protecting those assets under current state and federal laws can make this area daunting for brands.
Nonetheless, IP should be prioritized, as cannabis brands with established IP portfolios, like those in any other industry, are more likely to attract greater investment and gain a competitive edge in the market.
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