Cannabis
The cannabis industry is exploding in the United States, along with the rest of the world. Significant developments since 2014 have resulted in over 30 states legalizing cannabis, either for medical use, adult use, or both. Although cannabis is still treated as a controlled substance for federal purposes in the United States, recent political developments could result in partial or total legalization in 2021. The passage by Congress of the Farm Bill in 2018 resulted in hemp being taken off the controlled substances list. This has resulted in an expansion of the CBD market in the United States. Upcoming changes in the political climate in Washington D.C. could cause all industry participants to reevaluate their business strategies in 2021. Leveraging the firm’s renowned experience across legal disciplines including regulatory law, mergers and acquisitions, finance, taxation, litigation, and employment law, members of this group have a demonstrated track record of navigating the unique issues and challenges that face this industry.
We work with our national clients to help them:
- Navigate the federal and state regulatory framework for cannabis and hemp
- Prepare and submit applications for licenses to operate
- Negotiate and document acquisitions and all manner of contracts
- Create joint ventures and other business combinations
- Conduct due diligence on the targets of such transactions
- Plan for federal, state and local taxes, such as 280E
- Secure venture or other funding and introductions to capital sources
- Understand the regulatory framework and act as general business counsel
- Navigate cannabis and hemp-related labor and employment laws, including workplace training and litigating workplace claims
- Provide advice on banking and alternatives to banking
- Protect their intellectual property
- Efficiently resolve business disputes and litigation
- Conduct internal investigations and respond to state and federal government inquiries
