In a move that could greatly influence the CBD market in coming years, the U.S. has issued its first ever patent on a strain of hemp.
The hemp strain in question is probably the most well-known marijuana variety of its kind, Charlotte’s Web. The bud became famous after the story of Charlott Figi, a girl whose severe seizures were treated with use of the hemp strain, went viral in 2013.
Made by the Stanley Brothers of Colorado, Charlotte’s Web became one of the best-known brand names in marijuana. Through their publicly owned company Charlotte’s Web Holdings, the brothers distribute their signature strain to all 50 states and stand to make a boat load of cheddar in the booming CBD market.
Hemp is now federally legal, thanks to the 2018 Farm Bill. And under the new law, a strain producing less than 0.3% THC has many of the same privileges as any other legal commodity, including the ability of somebody to patent it.
According to the patent filing, Charlotte’s Web produces a maximum of 0.27% THC and 6.24% CBD. The strain’s inventor is listed Charlotte’s Web CEO Joel Stanley and the plant is described as “a new and distinct hemp cultivar designated as ‘CW2A’”
Leafly notes that the brothers Stanley have not yet commented on a number of press inquiries about the patent. However, the experts who did talk to the publication, including “intellectual property attorneys, plant experts, and cannabis-industry marketing professionals,” agreed that the patent “is a landmark move that could signal the intent for CWB Holdings … to seize a commanding share of the country’s burgeoning CBD market.”
Photo via Flickr user Mark Fuya