The Problem Of The Medical Marijuana Industry - 1410 Words

The medical marijuana industry has seen staggering growth in recent years with many state level legalizations and the federal memo issued in 2013 that told prosecutors to leave these businesses alone, as long as they comply with all their state laws. Colorado was the first state to legalize marijuana for recreational purposes and marijuana infused edibles soon became a rapidly growing element within the marijuana industry. As such, states are struggling to write effective legislation and create adequate testing and identification to address this new industry. However, compliance is just one area of risk management faced by the marijuana edibles industry. Just as any other manufacturer of a food product, edibles manufacturers face many hazard risks in the operation of their business (Frosch, 2014). Hazard risks are one of the four classifications of risks, which also include operational risks, financial risks and strategic risks. Identifying risks in this classification system focuses on the source of the risk as opposed to identifying by the type of risk. Hazard risks are classified as a pure risk, arising from property, liability or personnel loss exposures. These risks are insurable risks and typically are covered by an insurance policy. Fire and other property damage, windstorm and other natural perils, theft and other crimes (including personal injury), business interruption, disease and disability (including work-related injuries and disease), and liability claims areShow MoreRelatedThe Issue Of Medical Marijuana1270 Words   |  6 Pagesdebate the topic of medical marijuana. Some people support the legalization of medical marijuana, while others oppose it. The rhetors in this discourse community come from a variety of places and backgrounds. In the medical profession, b oth the American Academy of Neurology and the American Lung Association speak out about medical marijuana. On the federal level, the White House and the U.S Federal Drug Administration consider the impact of medical marijuana. Medical marijuana also sparks interestRead MoreMarijuana Legalization1424 Words   |  6 PagesLegalization of Marijuana Marijuana is the most common drug in America and all over the world. It is legalized in some countries, but most countries prohibit its use. It has proven medical abilities and was used for this purpose for a while before being federally criminalized. The United States has been debating on the legalization of marijuana with some states supporting the move and others against it. (10 Facts About Marijuana) Despite all these debates, the legalization of marijuana is the betterRead MoreShould Marijuana Be Allowed For Medical Marijuana? Essay736 Words   |  3 PagesCalifornia was the first state to sign for medical marijuana, ever since then 22 more states have joined. Now in 2015 the current states allowing marijuana as a medical option are, California, Alaska, Oregon, Washington, Maine, Colorado, Hawaii, Nevada, Montana, Vermont, Rhode Island, New Mexico, Michigan, Arizona, Washington DC, New Jersey, Delaware, Connecticut, Massachusetts, Illinois, New Hampshire, Maryland, Minnesota, and lastly New York. Medical marijuana is a plant made of over 400 natural compoundsRead MoreShould Marijuana Be Legalized?1496 Words   |  6 PagesMoliann Gross Research Paper February 15, 2017 Issues in Society: Recreational Marijuana in The United States Marijuana is one of the most commonly used drugs in the United states, after alcohol and tobacco. It is currently considered a federally prohibited substance, but this has not halted the legalization of recreational marijuana on a statewide level. While marijuana is slowly becoming more recognized for it s medicinal purposes it is also becoming more integrated into regular society andRead MoreShould Marijuana Be Legalized? Essay1223 Words   |  5 Pagesthat the marijuana industry has had on the economies of the states which have legalized recreational marijuana use for consumers over the age of 21. Many predictions were made referring to the outcome of marijuana legalization, however, most predictions made did not foretell the actual outcome. The act of legalization in the state of Colorado has yielded many advantages in the field of marketing. With these advantages, however, come many disadvantages. This study will identify how marijuana legalizationRead MoreThe Economic Benefits of Legalizing Marijuana1068 Words   |  5 PagesLegalizing Marijuana In 2007, the American economy took a downturn known as the recession. People began looking for a quick fix to our nation’s economic problems and one fix may be right in front of us, with the legalization of marijuana. The debate about legalizing marijuana has been going on for the last decade with no end in sight. Politicians, economists, and everyday people cannot come to an agreement over this growing issue. Today economists still converse over how marijuana can benefitRead MoreShould Marijuana Be Legalized?908 Words   |  4 PagesWith the legalization of the use, sale, and distribution of marijuana taking place in varied geographic, social and political areas, the laws governing its distribution and consumption are as varied as the states in which the practices take place. As previously stated, some states allow for the consumption of marijuana as a medicinal product only, and require a prescription from your physician. Partaking of the drug in these states without a prescription will result in varied punishments dependingRead MoreShould Marijuana Be Legalized?1521 Words   |  7 Pagesrecreational marijuana in January 2014. People from other states can now stop by marijuana dispensary and purchase up to  ¼ ounce of retail marijuana at once. According to the Marijuana Policy Group research, out-of-state visitors purchase 44% of metro area retail demand and about 90% of retail demand in mountain counties. This demand from tourists has increased income of Colorado marijuana dispensaries dramatically. However, as there are only 2 states in the US, which legalized marijuana for recreationalRead MoreMedical Marijuana Should Be Legal1051 Words   |  5 PagesThe term medical marijuana refers to the using the whole unprocessed marijuana plant or its basic extracts to treat a disease or symptom. But how can you really help? Medical marijuana may help stop the growth of blood vessels that feed cancerous tumors. And what I am currently researching i s how medical marijuana can help treat illnesses. For medical marijuana we basically use THC and CBD both or cannabinoids that are in the marijuana plant. For THC it increases appetite and reduces nausea. THCRead MoreOpioid War Essay861 Words   |  4 Pagesto solve this problem is to incorporate a non-addictive drug, such as marijuana, to soothe withdrawal symptoms while addicts receive the proper therapy and counseling not only for the drug addiction but also for the mental illnesses that go along with it. From 1850 to 1942, marijuana was listed in the United States Pharmacopoeia as a useful medicine for nausea, rheumatism, and labor pains and was easily obtained at the local general store or pharmacy (â€Å"Office of National† 2). Marijuana is widely used