This 4/20, patent owners with Intellectual Property (“IP”) related to cannabis have one more reason to celebrate as they may be able to enforce their rights against infringers in federal court. IP rights may provide an enforceable protection against copycats and competitors in the market, and may provide significant value to a company’s balance sheet. This was demonstrated when Tilray Brands, Inc. announced its intent to acquire fellow cannabis company Hexo Corp., a Canadian entity with a large patent portfolio related to cannabis, for approximately $56 million. Previously, whether a utility patent related to cannabis could provide such value in the United States was hazy. A first-of-its-kind case in California shows that it may be more than a pipe dream for cannabis patents to bolster a company’s balance sheet. The Court held the illegality doctrine did not bar an infringement claim based on a valid cannabis related utility patent asserted against a cannabis company.
Continue Reading California Ruling May Sow Seeds of Cannabis Patent Precedent