As more states continue to legalize cannabis, the variety of cannabinoid and hemp products available is expanding at a rapid rate. “Infusions” are making their way into a near-limitless number of CBD products — olive oil, coffee, beauty supplies, lotions, and even pet foods have added cannabidiol to their list of ingredients. Now that there are fewer legal restrictions placed on the drug, small businesses and entrepreneurs are eager to throw their hat in the ring; the result has been a significant rise in intellectual patent filings.
Protecting Your Pot Product
The whole of the cannabis industry is founded on intellectual property, from the manipulation of plant genetics to the cannabinoid extraction processes. So if you’re one of the 78% of millennials who want to learn something new on their travels, study up on cannabinoids. Everything that comes from the cannabis plant (which includes the vast number of food, drink, and non-edible CBD products) is, in some sense, intellectual property; therefore, it must be safeguarded in order to secure a competitive advantage in the marketplace.
The U.S. Patent and Trademark office receives over 500,000 patent applications each year, and — thanks to an industry that is expected to reach $23 billion in sales by 2025 — that number is growing. In 2012, only 144 simple patent families (which means patents were taken out in more than one country) were filed for cannabis food and drink; in 2015, 244 patent families were filed.
Surprisingly, no major food and beverage companies were among the top 10 applicants, which could lead to serious legal disputes down the road considering increases in demand. Approximately 66% of survey respondents are interested in “craft” and “artisan” spirits in restaurants, and cannabis is starting to corner that market.
Taking The World By Storm
Natural and organic products are as popular, if not more, as hemp and CBD products; by merging the two together, many businesses have found ways to increase their profit margin and expand their options; all while delivering quality natural products to their customers.
Take the success of Colorado Hemp Honey: two of the company’s products — Double-Strength Raw Relief hemp honey Colorado Hemp Honey Sticks (available in Raw Relief, Tangerine Tranquility, Lemon Stress Less and Ginger Soothe) — have been nominated as finalists for NEXTY awards. The NEXTY Awards recognize the most progressive, innovative, inspiring, and trustworthy products in the natural products industry during the world’s largest natural products trade show in Anaheim, CA.
NuLeaf Naturals, one of the country’s top pioneering hemp companies, has also gained a reputation for offering the highest grade CBD products — which are all-natural, lab-tested, and organic — on the market. Their organic CBD oils and extracts are now sold in more than 1,600 retail locations.
Undefined Beauty‘s Indigo Rose Glow Elixir and Indigo Rose Glow Gelée boasts phytocannabinoid rich hemp extract (CBD) to hydrate and revitalize your face, to your hair to your body. The CBD Oil in these products is said to controls oil production, detox and restore the skin.
White Cedar Naturals is bringing wholesome, potent, and pure hemp extract products in a new delicious way. They offer high-quality nutritional food and supplements in the form of Hemp Extract Oils, Organic & Vegan Hemp Extract Gummies and Raw Hemp Extract Chocolate.
This overwhelming push toward all-natural and organic is reflected in the number of patents being filed. It is necessary in order to stand against the corporate giants that are inevitably going to enter the CBD scene.