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Charlotte's Web Holdings Obtains First US Patent Granted For Hemp Strain

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Charlotte's Web Holdings Obtains First US Patent Granted For Hemp Strain

Charlotte's Web Holdings Inc (OTC: CWBHF), the producer of the Charlotte’s Web brand of CBD products, secured the first U.S. patent for a strain of hemp in July, according to Leafly.  

The company’s plant was granted a patent for “a new and distinct hemp cultivar designated as ‘CW2A,'" which is defined as “a hardy plant, resistant to cold and capable of producing up to 6.24% CBD and only 0.27% THC.”

With THC lower than 0.3%, the strain is characterized as “hemp” and considered federally legal. Furthermore, with most of the plants used for CBD cultivation having around 3% total CBD, it means that the company’s strain provides more than double the amount.

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As with any other patent, the company attained exclusive rights for growing its specific strain, while others may try to develop a strain with similar features.  

The company’s CEO Joel, Stanley was listed as the inventor, Leafly reported. 

Some insiders speculate that CWB Holdings has more patent applications in the pipeline — specifically, a utility patent.

“Since people think of hemp farming as a seed-based farming strategy, [plant patents aren’t] the best fit. But maybe if you want your genetics to be always exactly the same, then it’s worth going through the cloning process,” San Diego attorney and botanist Dale Hunt told Leafly.

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Posted-In: CBD Hemp Leafly Mary JaneCannabis News Markets Best of Benzinga

 

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