Full Spectrum

In the context of manufactured cannabinoid products, products that contain cannabis plant extracts, including THC. For products derived from hemp, levels of THC typically do not exceed .3%.

Foreign Direct Investment

Type of international investment in which residents of a foreign country invest money in a domestic business. Foreign direct investment in cannabis companies is regulated according to the laws of each jurisdiction, and in some cases is prohibited.

Food, Drug and Cosmetic Act (FDCA)

U.S. federal legislation passed in 1938 that charges the Food and Drug Administration with regulating the safety of foods, drugs, medical devices, cosmetics, and due to recent amendments, tobacco products.

Food and Drug Administration (FDA)

A U.S. federal agency within the U.S. Department of Health and Human Services (DHHS) responsible for regulating the safety of foods, drugs, medical devices, cosmetics, and tobacco products, pursuant to the Food, Drug and Cosmetic Act.

Flower

The smokable portion of a (female) cannabis plant.

FinCen Guidance

2014 guidance of the United States Department of Treasury, Financial Crimes Enforcement Network, entitled “BSA Expectations Regarding Marijuana-Related Businesses,” which provides guidance to financial institutions seeking to provide financial services to cannabis businesses. The FinCEN Guidance is based on the 2013 U.S. Department of Justice Memorandum entitled “Guidance Regarding Marijuana Enforcement” authored by Deputy Attorney

Felony

Crimes that are more serious in nature than misdemeanors, such as crimes of violence or serious drug offenses, that are punishable by more than one year of imprisonment or death.

Federal Illegality Waivers

Contract provisions where parties agree not to raise the illegal nature of marijuana activity as a defense to enforcement of the contract in judicial proceedings, and likely have little or no practical effect.

Federal Illegality Doctrine

Legal doctrine representing courts’ refusal to grant relief or enforce contracts for illegal activity, including for marijuana-related activity or goods.

Federal Analogue Act

Federal legislation passed in 1986 to supplement the Controlled Substances Act by deeming any chemical intended for human consumption that is “substantially similar” to a Schedule I or Schedule II controlled substance as being on the applicable schedule.