Marijuana has been legalized for recreational purposes in 21 states and medicinal use in 39 states. The business opportunities associated with cannabis are growing rapidly. That also means the need for good legal counsel is growing right along with it, and cannabis entrepreneurs can face even more extensive compliance and licensing requirements than their counterparts in other areas of business. The value of experience in business law generally and a keen understanding of this new field are vital for a cannabis lawyer.
At Singh Law Firm, you'll find an experienced team of attorneys who understand that legal matters and business operations go hand-in-hand. Our founding partners have over 45 years of combined experience in the field and have either led public companies or served on boards – giving them the unique insight to create highly effective strategies tailored to your needs. Let us be your reliable partner this time around; contact us today!
It’s important to understand that a cannabis lawyer is, first and foremost, a business attorney. To be effective, they should be familiar with all the legal and regulatory issues involved in running, buying, selling, or merging an enterprise. That means attentive due diligence to contracts and other documents. It means good negotiating skills and, if necessary, the ability to litigate effectively. It means knowledge of licensing, relevant environmental and labor laws, and much more. The foundation of a successful cannabis attorney is simply being a good business lawyer, regardless of whether the client’s product is widgets or weed.
Legalizing cannabis in many parts of the country has created unique legal challenges for the cannabis industry. Lawyers who work with cannabis clients must be current on local and federal statutes to ensure their client complies with all relevant laws and regulations. Additionally, due to the still controversial status of cannabis within general public opinion, lawyers must not only be prepared to represent their clients in various circumstances but with a mind towards how public perception will impact their situation.
Some challenges cannabis business owners may face include the following:
- More intensive regulation: Not only are cannabis business regulations often more intensive than those a typical business would face, but the political climate in different regions can vary. In some areas, regulators will keep an even more careful eye on the cannabis industry. A company's missteps are more likely to be noticed, and the consequences are more likely to be serious. The cannabis lawyer must be right on top of all compliance matters.
- The myriad of business relationships: While having a wide range of business relationships—from manufacturing to distribution to marketing isn't necessarily unique to cannabis, the regulatory and licensing intensity just noted has ripple effects here. A business must be sure its vendors are also in compliance. Finding out is the cannabis attorney's job.
- The startup phase: The company placed on a firm legal foundation usually has the best chance of success. The cannabis lawyer is important in making that happen, from involvement in the financing to copyrights and trademarks to overseeing the packaging and labeling of the product.
The cannabis industry is embryonic, and the legal and financial waters can often be choppy. It’s important for businesses entering the industry to have a lawyer who understands these nuances and can help them navigate the legal and social implications.
That’s where Singh Law Firm comes in. Our extensive legal experience is only augmented by our additional expertise in business itself. Clients who come to us can count on holistic advice that understands their issues from all angles—the legal and the financial.
Contact Singh Law Firm, P.A. today to schedule a consultation with our cannabis lawyers in New York City!