American Cannabis Company (OTCQB: AMMJ) has received a patent for The Satchel™ from the U.S. Patent and Trademark Office.
The Satchel is the company’s child-resistant solution that is a high-quality pouch designed like a case, which the firm believes will be of significant use in the growing marijuana industry. The U.S. patent authority has already tested the product and it meets the child-safety standards set by the Consumer Products Safety Commission. This means that The Satchel complies with the standards across all the states in the U.S. It was also tested by the American Society for Testing and Supplies, which has also confirmed that the product meets the standard requirements.
A marijuana media company called Cannabis Business Executive mentioned American Cannabis Company as one of the ancillary businesses in the top 100 list of firms in the marijuana industry. The company was ranked 42nd in the list, which includes both private and public firms. The list was released on June 7, with companies being measured on qualities such as the amount of revenue earned and the number of employees.
American Cannabis Company’s president and CEO, Corey Hollister, stated that protecting intellectual property is a significant part of a business’ competitive strategy, and the case applies in the marijuana industry that has been experiencing rapid growth. Hollister also noted that the patent for The Satchel is a milestone since it is part of his company’s strategy. The CEO also mentioned that it was an honor for his company to be recognized as one of the top supplementary businesses in the marijuana industry. The patent further edifies the firm’s objectives of creating value-adding solutions to other firms in the marijuana industry.
The company relies on its experience in the industry to create products and businesses that align with the industry practices and regulations. The company uses two business strategies to derive value from the market. It acts as a cultivator company and also a cannabis consulting firm offering client support from the conceptualization stage to the commercialization stage.
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