As the cannabis industry matures, there will be winners and losers. Losers lack access to the U.S. Bankruptcy Code. Marijuana related assets cannot be sold free and clear of liens and encumbrances via the tried and true bankruptcy section 363 sale, which leaves the loser’s creditors without the best tool to maximize the value of the loser’s assets, and deprives acquirers of a federal court order conveying assets. What’s the state of play, and what’s the alternative for the losers, their creditors, and the companies that would acquire them?
Continue Reading Budding Woes: Navigating the Weedy Waters of Cannabis Companies in Financial DistressThe Week in Weed: July 21, 2023
Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, we see that cannabis may be coming to North Carolina, despite the actions of lawmakers. We note that marijuana provisions did not make it into the National Defense Authorization Act. We see that Ukraine may legalize cannabis. And finally, some folks in Boston staged a new kind of tea party.
Continue Reading The Week in Weed: July 21, 2023Blunders That Made ‘Bakked’ Cannabis TM Go Up In Smoke
A recent lawsuit alleging trademark infringement by AmerikanWeed illustrates the importance of protecting intellectual property in the cannabis industry. Complaint at 9-10, Palmer, et al. v. Komm et al., No. 21-2-13589-3 SEA (Wa. Sup. Ct. filed Jun 21, 2023). Because the plaintiffs obtained a Washington state trademark registration, their recourse is limited to that state. To have recourse against infringement outside Washington, a federal registration may provide additional remedies—if it can be obtained. A recent precedential decision by the Trademark Trial and Appeal Board (“TTAB”) highlights some of the pitfalls to avoid if pursuing federal registration.
Continue Reading Blunders That Made ‘Bakked’ Cannabis TM Go Up In SmokeThe Week in Weed: July 14, 2023
Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, we check in on Pennsylvania, Ohio and Virginia – each state is in a different place and heading in a different direction as regards cannabis. On the federal level, we have yet another update on the SAFE Banking Act. Maybe it will pass this term? Or maybe not. In international news, Germany released a draft law that would legalize adult-use cannabis. And finally, the New York Media Softball League took on a CBD sponsor.
Continue Reading The Week in Weed: July 14, 2023The Week in Weed: July 7, 2023
Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, we report on Maryland’s retail market launch. New Hampshire okays a commission to study legalization. There’s a new report examining the federal scheduling of marijuana. And finally, in honor of Independence Day, we have a look at the Founding Fathers and hemp.
Continue Reading The Week in Weed: July 7, 2023Minnesota’s New Recreational Cannabis Law Results in First-Of-Its-Kind Drug Testing Scheme
Since 2014, Minnesota has provided applicants and employees with protections if they lawfully use cannabis for medicinal purposes. Starting August 1, 2023, Minnesota will provide protections to individuals who use cannabis for recreational purposes, after Minnesota Governor Tim Walz signed a state law allowing adults 21 and older to use recreational cannabis. The new law amends the state’s Consumable Products Act to protect off-duty cannabis use. The law also amends Minnesota’s Drug and Alcohol Testing in the Workplace Act (DATWA) by excluding cannabis from the definition of “drug” and by creating two different workplace drug testing schemes based on whether positions are exempt from the cannabis testing prohibitions.
Continue Reading Minnesota’s New Recreational Cannabis Law Results in First-Of-Its-Kind Drug Testing SchemeThe Week in Weed: June 30, 2023
Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, we remind everyone that retail sales of cannabis will begin on Saturday in Maryland. Florida’s attorney general is looking to prevent that in her state. We have an update on the Alabama medical cannabis licensing situation. We note that SAFE Banking is still a topic of conversation on Capitol Hill, and that cannabis made an appearance in this year’s National Defense Authorization Act. And finally, we note that the California State Fair crowned some winners in the marijuana category.
Continue Reading The Week in Weed: June 30, 2023The Week in Weed: June 23, 2023
Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, we start off in the South, where Alabama is having some issues with its medical cannabis licenses. Meanwhile, next door in Georgia, independent pharmacies will soon be selling cannabis oil. Heading north to New York, there’s news on the Cannabis Control Board. Then, it’s time for sports. The NCAA may remove cannabis from its list of banned substances, and the NBA will allow players not only to consume cannabis, but to invest in cannabis companies. And finally, Showtime is looking to bring back a popular show with a cannabis theme.
Continue Reading The Week in Weed: June 23, 2023The Week in Weed: June 16, 2023
Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, we see how the SAFE Banking Act is faring in the Senate. We also check in on North Carolina, where medical marijuana could get a vote. We note that Connecticut joined the group of states allowing tax deductions for cannabis companies. We give a shout-out to two members of our cannabis group with an article on medical cannabis and workers’ compensation. And finally, we advise you not to count on smoking cannabis at the Minnesota state fair.
Continue Reading The Week in Weed: June 16, 2023The Week in Weed: June 9, 2023
Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, we check in on the move to put adult-use on the ballot in Florida. We see that Maryland is working on regulations, as July 1 draws nearer. We note that the FDA is looking at a regulatory framework for CBD. And finally, we note that the Kansas City Royals sign a deal with a CBD company.
Continue Reading The Week in Weed: June 9, 2023