The legal medicinal and recreational cannabis industry is rapidly changing. What seemed like an impossible, is now a reality in many countries.
The scientific name of marijuana is “cannabis” and is part of the cannabaceae family where the number of species within the genus is disputed.
For medical purposes, at Eproint, we call it medical or medicinal cannabis but for recreational purposes it is usually named marijuana, and this is where the difference lies.
Worldwide cannabis is legal for medicinal use in Mexico (2016), Peru (2017), Colombia (2015), Chile (2016), Canada (2001), Argentina (2017), Uruguay (2013), Australia (2016), Jamaica (2015), Turkey (2016), Poland (2017), Puerto Rico (2015), Israel (90’s decade, 2018 legalized cannabis exportation), Finland (2008), Germany (2016), Czech Republic (2013) and Italy (2016).
In the United States of America, the use of medicinal cannabis is legal in 33 states while some other states have a restrictive approach and legislation limiting the use of Tetrahydrocannabinol (THC) content for the purpose of allowing access to products that are rich in CBD (cannabidiol).
Canada allows the use of medicinal cannabis and recreational marijuana use and leads the pathway in many forms serving as a model country for other following they path.
In Latin America, Uruguay was the first jurisdiction to legalize its use for both medicinal and recreational purposes and is the first country to export out of Latin America since 2013.
The personal consumption of marijuana has been decriminalized in the following countries therefor the consumption is now regulated: Costa Rica, Ecuador, Bolivia, Paraguay, India, Cambodia, Jamaica, Puerto Rico, Ukraine, Estonia, Holland, Spain, Switzerland, Austria, Moldavia, Georgia, Slovenia, Israel.
The more relaxed approach to the decriminalization of marijuana consumption and medical cannabis use has opened up significant business opportunities in the form of investments and ventures.
At the same time, this highly regulated industry is subject to stringent licensing and compliance requirements, impacting such diverse areas as employment, agribusiness, land use, health care and intellectual property law.
Eproint’s Medical Cannabis and Marijuana Law practice team poses significant experience advising and assisting companies in securing and keeping licenses to cultivate cannabis products, manufacture marijuana-infused products, obtaining sanitary approvals and dispense flower and infused products in Latin America and the Caribbean and in other countries worldwide.
The medical cannabis industry is important and the use of CBD (cannabidiol) infused oils and other related products have shown proven benefits in the treatment of illnesses such as epilepsy and even cancer.
The industry’s potential is impressive creating numerous employment opportunities and generating revenue for the countries that allow it. It is therefore important to understand and comply with the legal framework of each jurisdiction and this is where Eproint professionally assists its clients.
We are capable of:
- Preparing and submitting intellectual property right applications before the Registries in various countries;
- Preparing and filing health registration applications before the Regulatory Government entities in various countries;
- Preparing and submitting all licensing and permit applications along before the various Government entities as applicable;
- Assisting with legal due diligence, analysis and documentation of investments in businesses in the medical cannabis industry;
- Handling legal due diligence, negotiation and preparation of contracts of all sorts, approaching insurance companies, vendors and all parties involved;
- Assisting clients with business organization and business model development;
- Lobbying and representing our clients’ business interests before Government charged with regulating matters related to this industry;
- Developing employment contracts and related policies;
- Assisting with acquisitions, mergers and joint ventures.
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