Earlier today, Ocean Tomo released its Cannabis Industry Report focused on the significant market opportunities and trends in this burgeoning industry. Attention is given to the increasing importance of intangible asset protection inherent in the complex cannabis marketplace.
The development of the cannabis industry has been rapid, and with recent state legislative support, many competitors in the marketplace have explored new ways to capture market share while transforming their offerings. M&A activity has added to the industry’s complexity and has shed light on the importance of intellectual property protection.
In the report, Daniel Fang, Ocean Tomo Cannabis Industry Analyst, reflects on how COVID-19 has impacted the industry, sharing “contrary to most industries, the cannabis industry saw record growth in 2020 despite COVID-19. Because many retail outlets and dispensaries are ‘essential businesses,’ they stayed open throughout the pandemic. They adopted new ways of serving customers, from curbside pick-up to drive-through windows and deliveries”.
Ocean Tomo Industry Analyst Reports share unique insights related to technology and the intellectual property driving business value. Daniel Principe, who oversees the creation of Industry Reports for Ocean Tomo, shares “each report reflects on leading market participants, current industry trends, and important deal activity. The reports provide industry predictions, emerging industry partnerships, and analysis of intellectual property protection considerations”.