We make it our business to understand yours – and for clients in the complex and rapidly emerging cannabis industry, this is especially important.
According to New Frontier Data’s 2019 report, The U.S. Cannabis Report 2019 Industry Outlook, the United States legal cannabis market is projected to reach nearly $30 billion in consumer spending by 2025. Recognizing the tremendous business opportunities this market presents, we have gained considerable experience helping clients in Maryland and throughout the United States capitalize on the industry while mitigating risk.
In December 2018, The Hemp Farming Act of 2018 (the Hemp Bill) redefined hemp as all parts of the Cannabis Sativa plant that do not exceed 0.3% THC, and it definitively removed hemp from the list of controlled substances and the purview of the Federal Drug Administration. This change opens the door for banks and payment processors to serve the hemp industry and allows for interstate commerce of hemp and hemp products. By encouraging greater hemp cultivation and CBD-product manufacturing, the Hemp Bill is expected to trigger significant growth within the industry.
We provide a full range of legal services to cannabis industry clients including investors, growers/cultivators, processors/manufacturers, dispensary owners, medical professionals, technology and product development companies, and other businesses that intersect with the cannabis sector.
Our team leverages our collective experience to support clients with:
- Strategic planning
- General corporate governance
- Entity structure and formation
- Tax efficient structuring in connection with 280E
- Raising capital and securities compliance
- Mergers, acquisitions and reorganizations
- Joint venture negotiations
- License procurement
- Risk mitigation and Insurance
- Management agreements
- Employment matters
- Real estate matters
- Intellectual property matters
- Employee equity incentive plans
- Regulatory compliance
With special attention to the conflicts between state and federal law, we maintain a strong understanding of the constantly changing regulatory landscape that governs this industry, and we work collaboratively across practice groups to help clients grow their businesses with confidence.
The following practice groups are instrumental to our work in this industry:
- Business and Financial Services
- Business Planning
- Investment Funds
- Mergers and Acquisitions
- Tax Law
- Commercial Lending
- Commercial Litigation
- Employment and Labor Law
- Financial Regulatory and Compliance
- Intellectual Property
- Real Estate
- Commercial Leasing
- Land Use and Zoning
- Startups and Emerging Growth Companies
- Represent Maryland-based multi-state operator of cannabis cultivation, processing and dispensary businesses in Pennsylvania, Ohio and Virginia in strategic planning and general corporate matters, mergers and acquisitions, capital raise activities, joint venture negotiations, new license procurement, management agreements, employment law issues and equity incentive grants.
- Represent Colorado-based multi-state operator of cannabis cultivation, processing and distribution businesses in Colorado and California with strategic planning and general corporate matters, tax efficient structuring in connection with 280E, mergers and acquisitions, including acquisition of cultivators, dispensaries, capital raise activities, joint venture negotiations, management agreements and real estate leasing matters.