Rise in New CBD Products Resulting in Increase in Patent Filings

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Feb 26, 2019, 10:40 ET

PALM BEACH, Florida, Feb. 26, 2019 /PRNewswire/ -- It seems like every day a new product enters the ever growing universe of CBD infused items. "Infusions" are appearing in restaurants, cookies, candy, pet foods, ice cream, gummies, olive oil, coffee, beauty supplies, skin creams, sun burn lotions, vitamins… The list seems endless. Most of these new products however, have come from newly minted companies, entrepreneurs, and small business. Many of these producers/suppliers may not have protecting their IP rights in their plans… either because they are not actually selling something different than their competition, but are packaging and marketing the same or similar items to their consumers; or they don't have the money, resources and experience to do so. However, the game is beginning to change as large companies with existing well known brands, enter the market. They will want to… no… they will NEED to be able to fully protect their competitive advantage. Food and beverage companies fit this bill! Active Companies from around the market with current developments this week include: Marijuana Company of America, Inc. (OTC:MCOA), Auxly Cannabis Group Inc. (TSX-V: XLY) (OTC: CBWTF), Kona Gold Solutions, Inc. (OTC: KGKG), CV Sciences, Inc. (OTC: CVSI), Canopy Growth Corporation (NYSE: CGC) (TSX: WEED).

A recent article by IPWatchdog, a company that focuses on the business, policy and substance of patents and other forms of intellectual property addresses this next step: "Early protection of intellectual property rights is a critical component in any business' efforts to secure a competitive advantage in the marketplace. A recent report has found that patenting activity for cannabis food and drink has seen a large increase in global activity, in the last five years. 242 simple patent families have been filed in 2015, up from only 144 simple patent families filed in 2012. However, not a single food and beverage company was found to be among the top 10 applicants. Analysing patent filings in the cannabis food and drink field shows that although patent numbers are small—possibly because the illegality of cannabis disincentivizing R&D, and therefore fewer companies seeking legal protection via patents—the rate of filing is increasing. This relative lack of patenting in the area of cannabis food and drink, and cannabis-infused edibles, could point to a looming patent war, with legalisation triggering a swarm of patent applications."

Marijuana Company of America, Inc. (OTCQB:MCOA) BREAKING NEWS: Marijuana Company of America, an innovative hemp and cannabis corporation, is proud to announce that the United States Patent and Trademark Office issued the Company a patent for the formulation of its flagship CBD product, hempSMART™ Brain.

hempSMART Brain is a wellness product formulated with a proprietary composition of natural ingredients and cannabidiol (CBD) for the enhancement of brain function. The U. S. Patent Office issued patent number 10,201,553. To view the patent on hempSMART™ Brain visit the link here.

Dianna Steinberg, Head of Product Development commented, "This patent represents the hard work of the whole team involved in this formulation. Their invaluable insight into the goal of using CBD with additional supplements in a synergistic fashion to produce a fabulous product is a tribute to their dedication."

Donald Steinberg, CEO commented, "This patent award signifies advances we achieved and are continuing to work toward as a company to produce products of the highest quality. As we continue to build the hempSMART brand on a global basis, our receipt of this patent will provide the Company with recognition of the advances being made at Marijuana Company of America."

Trevor Muehlfelder, Legal Project Manager on the patent application for H Smart Inc., observed: "Having been involved with this application from the beginning, it is rewarding to see the U.S. Patent Office recognize the unique and innovative values of the Company's personal wellness products utilizing cannabidiol and other synergistic ingredients. This is our first patent to date and corroborates the Company's continuing commitment to developing natural wellness products utilizing CBD for everyone." Read this and more news for MCOA at: https://www.financialnewsmedia.com/news-mcoa/

In the industry developments and happenings in the market this week include:

Auxly Cannabis Group Inc. (TSX-V: XLY) (OTCQX: CBWTF) recently announced the appointments of Brian Schmitt as Chief Financial Officer, Jason Sonshine as Vice President, Strategy, and Carla Nawrocki as Vice President, Investor Relations of the Company. Brian Schmitt, CFO, is an accomplished finance and accounting executive with approximately 30 years of experience in both private and publicly-traded companies. Most recently, Mr. Schmitt acted as the CFO at EnerCare Inc., where during his tenure with the company he played a large part in growing the company through acquisition and helped carve out their strategy, systems integration and operating plan. He also served as Vice President Planning & Administration for Wells Fargo Financial and held senior finance and accounting roles with Citi Financial and Ernst & Young. Mr. Schmitt is a Certified Public Account (CPA), a Chartered Accountant (CA) and a Certified Financial Analyst (CFA) charterholder. Chuck Rifici noted "We are delighted that Brian, Jason and Carla have joined the Auxly family and look forward to their insight and contributions as we continue to execute on our strategic plan. We are very pleased with the strength of the management team that we've assembled here at Auxly."

Kona Gold Solutions, Inc. (OTCPK: KGKG) the company, a hemp and CBD lifestyle brand focused on product development in the functional beverage sector, on February 20th announced the Company has entered into distribution agreements with Missouri based River Eagle Distributing, Inc., Bradley Distributing, Inc. and Bob Ralph Dist. Co., Inc. The partnership between Kona Gold and River Eagle, Bradley, and Bob Ralph Dist., will cover the southeast of the state of Missouri. All three distributors will distribute the Company's popular Kona Gold Hemp Energy Drinks and HighDrate CBD Energy Waters.

"I am excited to announce that River Eagle, Bradley, and Bob Ralph Dist. has joined our network of distribution partners," stated Chad Webb, Midwest Sales Manager of Kona Gold. "All three distributors have an impeccable reputation in their market and will do a great job for our brands. I look forward to working closely with the teams at all three distributors as we expand our Kona Gold line of products into the great state of Missouri."

CV Sciences, Inc.

(OTCQB: CVSI) the company, a preeminent supplier and manufacturer of industry-dominating hemp CBD brand, PlusCBD Oil™, on February 20^th, announced that its best-selling product, PlusCBD Oil™ Gold Softgels, has been named a "Top Pick" by ConsumerLab.com, LLC (CL), a leading provider of independent test results for the supplement industry. PlusCBD Oil™ Gold Softgels received this recognition based on the product's industry-leading purity and value, as well as its label accuracy.

Canopy Growth Corporation (NYSE: CGC) (TSX: WEED.TO) The company, on February 25, announced that it has named Hilary Black as its Chief Advocacy Officer, effective immediately. In her expanded role, Hilary's mandate includes driving patient advocacy efforts worldwide, executing the Company's global corporate social responsibility strategy, and leading the implementation of best practices for diversity & inclusion.

"My unconventional path to the executive level speaks to Canopy Growth's respect for the trailblazers that for many decades fought for legal cannabis access," said Hilary Black, Chief Advocacy Officer, Canopy Growth. "For my entire adult life, I have broken down barriers so that patients could access cannabis. Being with Canopy Growth has exponentially amplified these efforts. I feel a tremendous sense of responsibility and privilege to build on this legacy of compassion and carry out a mandate that will improve the lives of patients around the world."

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