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An Overview of Legal Issues and Regulations Affecting CBD-Based Franchise Systems
Franchise Law Journal ; 41(4):543-570, 2022.
Article in English | ProQuest Central | ID: covidwho-2124821
ABSTRACT
[...]in Oregon and Florida, consumers can purchase CBD in their coffee.2 Following declassification of hemp as a Schedule I drug, a recent Gallup poll found that one in seven Americans use hemp-derived CBD products (although CBD derived from marijuana is still illegal under federal law and will not be addressed here). "3 CBD products are available at a variety of mainstream retailers including CVS, Walgreens, GNC, Kroger, Ulta Beauty, Abercrombie & Fitch, and American Eagle Outfitters.4 Industry research firms estimate that by 2024, CBD sales will exceed twenty billion dollars in the United States.5 Another study projects a twenty-five percent compound annual growth rate in the CBD edible market between 2020 and 2027.6 Many consumers rely on CBD to treat anxiety, pain, and insomnia.7 Other common usages include over-the-counter treatment for depression, muscle contractions, skin conditions, and digestive concerns.8 A third of pet owners have purchased CBD-infused treats, food, or other items for their cats and dogs, and purchases of CBD pet products are rapidly increasing as pet owners begin to return to the office following the nationwide lifting of COVID-19 restrictions.9 Considering this clear market demand and the likelihood that states will continue to ease restrictions on sale of CBD and other hemp-derived related products, franchisors may find entering the CBD market an irresistible opportunity-either through creating a new franchised system that primarily sells CBD products or by adding them as a new or additional product line in an existing system. [...]Section IV addresses many of the unique challenges associated with franchises selling CBD and proposes best practices for both franchisors and franchisees. "25 Guy believed a cannabis product with low levels of THC but high levels of CBD would be appealing for these users.26 By the late 1990s, several Northern California cannabis growers were cultivating high CBD/low THC strains and distributing both the seeds and their research about its effects at marijuana shops and fairs on the West Coast.27 In 2010, a group of medical marijuana researchers and cannabis growers founded Project CBD, a nonprofit corporation with the goal of collecting and promoting medical research regarding the benefits of CBD.28 In August 2013, CNN aired Dr. Sanjay Gupta's documentary Weed, which contained a segment describing the successful use of a CBD oil developed by the Stanley Brothers, called "Charlotte's Web," to reduce seizures in fiveyear old Charlotte Figi.29 After the segment, the wait list for the oil grew to 15,000 people, families moved to Colorado with the hope of using the oil, and the Food and Drug Administration fast-tracked trials of GW Pharmaceutical's CBD-based medication, Epidiolex.30 Popular culture acceptance and demand for CBD has continued to increase in the last decade.
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Collection: Databases of international organizations Database: ProQuest Central Language: English Journal: Franchise Law Journal Year: 2022 Document Type: Article

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Collection: Databases of international organizations Database: ProQuest Central Language: English Journal: Franchise Law Journal Year: 2022 Document Type: Article