What is the difference between hemp and cannabis?

Hemp and cannabis are basically siblings. Both are in the same genus but they are genetically separate in the amounts of cannabinoids they produce. Hemp traditionally has been used for commercial products like sails for hundreds if not thousands of years. Recently, due to the federal legal status of cannabis and THC, hemp has had a surge as a source of cannabinoids like CBD while still staying low in THC. Per federal law, hemp is defined as a cannabis plant with a THC content no greater than 0.3% by dry weight volume.