By Max A. Cherney, Tech reporter, MarketWatch
Canada-based Canopy Growth Corp. has withdrawn a trademark it filed in August for the phrase “Chronic By Dre,” according to a company spokesman.
“Chronic By Dre” refers to the 1992 album by rapper and music mogul Andre Young, also known as Dr. Dre. It also works as a hat-tip to “CBD” or cannabidiol, a non-psychoactive substance found in marijuana and hemp plants.
In a statement, Canopy CGC, -1.58% WEED, -7.23% vice president of communications and media Jordan Sinclair said that the trademark was filed in error and the company does not have a relationship with Young, or “rights to Mr. Young’s name, likeness or any of his intellectual property.” Sinclair said that the company apologizes to Dr. Dre.
“Our staff is encouraged to think of new and exciting trademarks,” Sinclair wrote. “In this case, a staff member improperly put this item forward for trademark protection, and while this should have been caught and stopped, it was not. This was a mistake on our part.”
According to the trademark filing, which was reported earlier, one of Canopy’s subsidiaries planned to use it for a range of consumer goods including sunglasses, cannabis products and pet accessories.
Universal Music LLC, which operates Dr. Dre’s Aftermath Entertainment music label as a subsidiary, did not return several emails requesting comment.
Canopy stock was trading 1.3% higher in Friday trading as the S&P 500 indexSPX, +0.00% fell less than 0.1%. Canopy shares have gained more than 100% this year — much of those gains came after Constellation Brands Inc. STZ, +0.32% announced a $4 billion investment in the company in August.