This month’s case study is The Economics of CannabisTM. I have the approved registered trademark for that term as it relates to titles, education, and published material. I bring this up because as you know we were among the first to coin facets of this industry (in the USA particular) as The Wild West. You read last month in our exclusive Q&A with none other than Todd Harrison of CB1 capital that Todd used the term Hucksters in reference to the malign actors plaguing aspects of this industry. Because I am the first I can find to use the term Hucksters in reference to those characters in this industry I could not help but appreciate that it has gained traction. Not that long ago, one such actor created an imposter CannaInvestor site designed to direct traffic to their site by those searching on the real CannaInvestor. Because we have these registered trademarks, shutting the imposters down is easier than it would otherwise been. Why do I bring this up specifically, because if you have an idea you need to protect it and especially in this industry. Why is that?
Not so much because of the malign actors, but they are indeed a good reason to do so, but just to protect your property, your work, and your ideas. A few years ago the number of patents, trademarks, and copyrights with respect to this industry was miniscule but now are in the tens of thousands world wide. Canopy Growth Corporation ($WEED) alone I believe had 30 or more when I last looked. But you may also discover that your own ideas have already been protected by another who thought of it first and you do not want to invest your time, effort, and treasury into an undertaking just to find out that you were in fact second across the post. How many times have I said in this industry the old cliché to measure twice and cut once cannot be understated. Do your due diligence in all things and do not share your ideas and projects with others because they may beat you to it or may innocently share your idea with another who in turn files the necessary paperwork ahead of your. Use Non Disclosure Agreements when discussing your undertakings. When someone says to me “do you not trust me” when I resist disclosure or request protection for disclosure I tend to respond with the words to the effect of “of course I do, which is why I know signing the NDA is a no brainer for you but doing so is part of the processes and procedures I have established … you understand ….”.
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