Trade Secrets for Cannabis Companies
There is plenty of money to be made for marijuana growers, manufacturers, distributors, and shops in the Los Angeles area. It seems like new dispensaries are popping up on a regular basis, and there are unique legal concerns for this industry. For example, protecting intellectual property should be a significant priority.
Marijuana continues to be a controlled substance under federal law, despite more and more states legalizing it. This makes it difficult for cannabis companies to obtain patents, trademarks, or other federal IP protections. For this reason, cannabis company owners might need to protect proprietary information as trade secrets.
Some information that might be protected as trade secrets includes:
- Methods for growing
- Specific soil mixtures
- Recipes for fertilizers
- Process or techniques for extraction
- Processes for curing or dying
- Recipes for supplements or edibles
- Supply pricing and lists
- Customer information and lists
- Plans for distribution
It requires affirmative steps to obtain trade secret protection to keep information confidential, such as:
- Only share the information with essential people who need to know it for their jobs
- Make it clear that the information should be kept confidential
- Have employees or parties with access to the information sign non-disclosure agreements
If you do not take the right steps to protect proprietary information, it will not be considered a trade secret, and you will not have the necessary legal rights to seek relief should someone misappropriate the information. It is critical that you have the guidance of an experienced Los Angeles marijuana business attorney to make sure proper protections are in place.
Consult with a Los Angeles County Cannabis Lawyer Today
At the Kaver Law Office, we assist cannabis companies with all types of legal matters, from contracts to intellectual property to dispute resolution. Call 310.620.6420 or contact us online to discuss your situation and the different ways we can provide assistance.