So, you’re starting a marijuana business or thinking about changing the name of your established cannabis company.
Any names being considered for a cannabis business should reflect the image the company hopes its customers associate with the firm.
Choosing the right name is trickier for a marijuana brand than for a traditional company because of the illegality of cannabis at the federal level in the United States.
There’s also the stigma attached to marijuana and the fact that legalized cannabis is a relatively new market.
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Senate Banking Committee Chairman Mike Crapo said he is open to holding a hearing soon on cannabis banking legislation, as industry advocates continue to view the Senate as a hurdle to allowing banks to serve pot businesses.
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A Maryland General Assembly task force began its work on studying possible legalization of cannabis for adult use earlier this week — a signal the legislature is getting serious about moving forward with legislation next year.
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In states where recreational marijuana use has been legalized, teens are less likely to smoke it, says a new study published in JAMA Pediatrics. Other recent studies have come to similar conclusions.
Licensed dispensaries are replacing drug dealers in these states, making it harder for teenagers who aren’t of legal age to get their hands on cannabis. However, the study did not find a decrease in teen use when only medical marijuana was legalized.
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Marijuana products are ineligible for U.S. trademarks because the plant is federally illegal, but that’s not keeping businesses in the marijuana and hemp sectors from filing trademark and patent applications.
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While many of the trends in cannabis have held steady for the first part of 2019, a new one that’s emerging is more merger and acquisition activity centering around the United States rather than Canada.
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Why did New York and New Jersey fail with recent legalization efforts, while Illinois succeeded in approving recreational marijuana via a legislative move?
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The number of financial institutions actively banking marijuana-related businesses in the United States is rising, but the true number is far fewer than U.S. Treasury data indicates, according to one industry executive.
Data released by the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) shows the number of banks and credit unions actively banking marijuana-related businesses has increased steadily, reaching 633 institutions at the end of the first quarter versus a little more than 400 at the start of 2018.
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On Tuesday, Governor J.B. Pritzker made good on one of his signature campaign promises and signed a bill bringing recreational weed to Illinois. Like recent—failed—attempts at legalization in progressive states like New Jersey and New York, the bill was framed as a “reset” of the war on drugs. Among other provisions, it was slated to expunge the records of as many as 800,000 people who have been convicted for purchasing or possessing up to 30 grams of cannabis. It also vowed to pump 25 percent of the tax revenue reaped from commercial sales into historically impoverished neighborhoods, and attempted to systematically encourage minority ownership of licensed pot dispensaries.
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Right now, few industries offer greater long-term growth potential than the legal marijuana industry. On Wall Street, peak sales projections for the cannabis industry have come in as high as $166 billion. The analyst behind this lofty forecast, Bank of America’s Christopher Carey, also suggests that marijuana could disrupt industries that today combine for $2.6 trillion in annual sales.
It’s these estimates for rapid sales growth that have pushed cannabis stock valuation (at times) into the stratosphere. With tens of billions of dollars’ worth being sold annually in the black market, worldwide weed legalizations could easily move a majority of these sales to legal channels in the years to come. If that’s the case, even the loftiest sales projections from Wall Street over the next 5 or 10 years may be attainable.
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