Bloomsbury Professional Law Insight: Cannabis Law and Regulation

This new title provides a holistic picture of global cannabis laws and emerging legislative trends for businesses that require a deeper understanding of one of the fastest-moving emerging sectors today.

Individual jurisdictions breaking from international guidance on cannabis legality have opened a Pandora's Box of divergent regulatory regimes across some of the world’s biggest economies. Recent court cases, rulings and directives, along with government initiatives, trials and in some cases total decriminalisation, have created a patchwork of global markets for participants to navigate and serve. These range from fully legal adult recreational markets to nascent medicinal and biopharmaceutical opportunities.

Domestic cannabis initiatives have generated significant opportunities for a range of industries including cosmetics, food and beverage, pharmaceutical, technology and tobacco, despite the exacerbated risks of trading while the UN’s indecision over the drug’s potential rescheduling is ongoing. The cannabis industry itself is at a crossroads due to the legal arbitrage occurring from the varying speeds of maturation. Where Canadian firms have endured more than a decade of IP and trademark litigation issues, for example, many European businesses are only now discovering the roadblocks to patenting products that are by definition illegal under international law.

M&A activity between producers and suppliers is also soaring, causing problems for banking and capital markets firms who may be exposed to federally illegal activity. Overseas investors must also consider proceeds of crime laws that may apply should they be transacting in an activity that is illegal in their home country.