In the USA law firms have been opening cannabis departments to reflect the demand created by the exploding cannabis markets following legalisation in a number of states. This legalisation has spearheaded a global review on attitudes towards cannabis and its move towards legalisation.
Mackrell Turner Garrett, a law firm based in West London has stated it is looking to follow in the footsteps of law firms in the US who have benefitted from the growth of the cannabis industry. The department was originally conceptualised by Robert Jappie, a senior associated at the firm, whose interest in drug policy reform came from his previous work in criminal defence. He is quoted as saying “Despite the UK being one of the biggest producers and worldwide exporters of cannabis, it was still prohibited medicinally and recreationally. However, the investigations revealed that there was a burgeoning CBD industry already in existence in the UK."
In the UK Cannabis consumption remains illegal, However, CBD oil is legal on the condition it does not contain any THC as provided by legislation.
As a result, the CBD industry in the UK has begun to expand rapidly, considering the extensive amount of research demonstrating the health benefits that this supplement can offer.
Other large firms in London have also started to take an active interest in cannabis. For example, Allen & Overy have launched a cannabis newsletter, promising “a practitioner insight on the legal and regulatory developments in the Cannabis sector worldwide.”
Whilst for the time being cannabis in the UK remains gated behind illegality, UK CBD oil has many more immediate prospects for growth. As societal and legal attitudes shift alongside further studies demonstrating the wealth of uses the versatile cannabis plant has, it will be interesting to see how the market for cannabis as a whole develops over the coming years.
If you would like to know more about the differences between cannabis and CBD, or are looking to learn more about CBD supplementation, please visit www.lucidhemp.co.uk to find out more.