Duane Morris LLP and the American Trade Association for Cannabis & Hemp (ATACH) today announced the first-ever partnership agreement between an American Lawyer (Am Law) 100 law firm and a cannabis trade association. Duane Morris LLP is a law firm with more than 800 attorneys in offices across the United States and internationally. It marks the largest and most significant law firm partnership with a cannabis trade association to date.
The DEA Affirms CBD Derived from “Marijuana” Is Federally Unlawful
The Controlled Substances Act defines “marijuana” as: all parts of the plant Cannabis sativa L., whether growing or not; the seeds thereof; the resin extracted from any part of such plant; and every compound, manufacture, salt, derivative, mixture, or preparation of such plant, its seeds or resin. Such term does not include the mature stalks of such plant, fiber produced from such stalks, oil or cake made from the seeds of such plant, any other compound, manufacture, salt, derivative, mixture, or preparation of such mature stalks (except the resin extracted therefrom), fiber, oil, or cake, or the sterilized seed of such plant which is incapable of germination.
The DEA has recently affirmed its position that CBD sourced from the parts of the plant that are included in the definition of marijuana are unlawful. This is true even if the CBD does not contain any THC. CBD derived from the excluded parts of the marijuana plant does not violate federal law. Were it to investigate/prosecute a business or individual for possessing CBD, the DEA would place the onus on the target to prove the CBD was sourced from the lawful parts of the plant.
Just like THC-containing products that are lawful under a state’s marijuana laws, CBD that may be lawful under a state’s marijuana laws, is still federally unlawful if sourced from the parts of the plant included in the definition of marijuana.
Duane Morris Partners Named Cannabis Law Trailblazers
Congratulations to Duane Morris partners Seth A. Goldberg and Christiane Schuman Campbell, who were recently named Cannabis Law Trailblazers by National Law Journal.
The inaugural list honors individuals “who are involved in all areas of cannabis law from helping regulate the marketing to providing licensing to new companies.” Duane Morris is one of only three Am Law 100 firms represented on the list.
To read the full press release, please visit the Duane Morris website.
“Cannabis 108” Webinar Replay Available
A video replay of the webinar “Hot Topics for Healthcare Facilities and the Utilization of Medical Cannabis” is available to view.
Duane Morris’ Michael Schwamm to Present on Investing in the Cannabis Industry
Duane Morris partner Michael Schwamm will present on “Investing in the Cannabis Industry” at the Opal Group Family Office & Private Wealth Management Forum West on October 25, 2018, in Napa, California.
Known for the fastest growing population of newly structured family offices in the world, Northern California is largely dominated by first and second-generation families from the Silicon Valley. Investment strategies such as Private Equity, Venture Capital, and Technology will be familiar themes throughout this conference. Investment managers and families will come together to discuss the foundations in which they built their wealth, and uncork the various investment strategies in which to keep their portfolios growing. For more information, visit the Opal Group website.
Duane Morris’ Jerome Levy to Discuss Municipal Regulation of Marijuana
Duane Morris partner Jerome Levy will participate in the Strafford webinar, “Municipal Regulation of Marijuana: Guidance on Permitting, Licensing and Zoning for Medical and Recreational Uses,” on Wednesday, October 10, 2018, from 1:00 p.m. to 2:30 p.m. (Eastern time).
This CLE webinar will offer guidance to local government lawyers on regulating cannabis consumption for medical and recreational uses. The panel will discuss the patchwork of current regulatory efforts across the country and explore some of the most effective strategies for regulating in municipalities based on current case law and the interplay with state and federal regulation. For more information and to register, visit the Strafford website.
Cannabis Patents: Patent Litigation in an Emerging U.S. Industry
Even though cannabis remains a Schedule I controlled substance under U.S. federal law, the United States Patent Office (USPTO), a federal agency of the U.S. Department of Commerce, routinely grants patents covering cannabis-related technologies. The Schedule I classification of cannabis is not relevant to patentability. As with any other invention, to be patentable, a cannabis-related invention must be new, useful, and nonobvious, and teach one of ordinary skill in the art how to make and use the invention. The USPTO has determined that many cannabis-related patent applications have met these requirements. Patents granted to cannabis-related inventions cover an enormous range of technologies, including cannabis plants, growing systems, extracts, methods of making extracts, foodstuffs, veterinary products, and methods of treating various diseases and disorders.
To read the full text of this article by Duane Morris attorney Gretchen L. Temeles, Ph.D., please visit the Cannabis Law Journal website.
Bank Closes Campaign Account of Pro-Cannabis Candidate
Banking continues to be a challenge for the cannabis industry. But, Wells Fargo recently erected a new barrier: It closed the campaign bank account of Nikki Fried, candidate for Agriculture Commissioner of Florida. According to a report in the New York Times on August 21, 2018, the bank took notice of the candidate’s advocacy for better access to medical marijuana. It then asked the campaign whether it accepted contributions from lobbyists for the medical marijuana industry. When the campaign replied it accepted contributions from executives and employees in the industry, Wells Fargo closed the account. The campaign now banks at BB&T. Full New York Times Story
Constellation Brands’ $4B Cannabis Investment
On August 15, 2018, Constellation Brands, which owns popular beer, wine and spirits products, such as Corona, Robert Mondavi and High West, announced it is investing $4 billion in Canopy Growth, which is one of the leading investors in the global legal cannabis market. The announcement boosted Cannabis market stocks in the US and Canada, and is likely to catch the eye of big alcohol, big tobacco, big pharma and larger consumer products companies that have been interested in entering the growing legal marijuana markets. More and more companies once-hesitant about doing so are finding that good counsel can help them navigate the regulatory hurdles that might otherwise stand in the way of profiting from this exciting market.
“Cannabis 107” Webinar Replay Available
A video replay of the webinar “Cannabis 107: The U.S. and Canadian Cannabis Markets: 2018 Mid-Year Review” is available to view.