By: Caleb Summeril
Cannabis commerce has been experiencing exponential growth, and the industry it fuels continues to thrive and expand. This steady progress has led to solid profits for many companies while also driving advancements and innovations. As the industry develops, so do the technologies and processes involved throughout, and this is blazing the new horizon of cannabis extraction. Progress dictates a need for protection, and the many new advances, creations and products in the extraction space means a focus on the importance of intellectual property (IP) related to these innovations carries more magnitude than ever before.
According to the World Intellectual Property Organization, IP “refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce.” In relation to the cannabis industry, this can relate to any trademark, copyright or patent which allows the creator of an innovation to collect profit and gain acknowledgement from this creation. In the extraction space specifically, IP could be a newly formed technique or tool to aid or improve a process, or other everyday business elements related to logos, trade secrets, goods and services.
Read more >> https://extractionmagazine.com/2019/11/29/cannabis-extraction-innovations-as-intellectual-property/
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