CBD-infused Foods Gain Approval, John Deere back in the Right-to-Repair Sights, and More
CBD gains approval for Food & Beverages
California has recently approved hemp-derived cannabinoids for use in food, beverages, cosmetics, and other products with the passage of Assembly Bill 45. This should provide a major boost to the hemp market which has largely been limited to industrial uses and stand-alone extract products. Hemp markets have struggled with oversupply and lack of processing capacity in recent years. The new California law is a departure from the federal Food & Drug Administration’s continued refusal to approve CBD for food. The new law establishes regulatory framework and labeling standards for hemp-derived cannabinoids in foods and related products – you can read more here.
Strike at John Deere may fuel Right-to-Repair advocates
Union workers at John Deere went on strike for the first time in 35 years, and the effects are already being felt at the farm level by a lack of parts and inability to get equipment repaired. Deere has been a lightning rod to the Right-to-Repair movement due to its position on the intellectual property rights in the sophisticated software powering much of its equipment. Many equipment repairs can only be done through authorized Deere dealers because proprietary computer code required to diagnose and fix problems isn’t available to equipment owners. With Deere’s workers on strike at the critical harvest season, equipment owners may be left with no options to fix equipment break-downs.
Cape Law Firm’s Frequently (or Randomly) Asked Questions
What is a “Change of Control” clause?
A “Change of Control” clause in a contract generally provides one Party the right to terminate the contract, or modify their rights in some fashion, when the management or ownership of the other Party changes. Typical events that would trigger a change of control clause include:
- a Party merges with another company
- a Party sells of all of its assets to another company
- a change in the ownership of 50% of the shares that have the right to elect the Board or management
- a change in the majority of the Board or management committee
The underlying principle of the Change of Control clause is the right to decide whether you want to continue to do business with the Party that has undergone the change. These clauses are especially useful when one side is acquired by a competitor of the other side.