Cannabis 3.0 is here, and it needs legal counsel. As more and more states join the legalized list, cannabis companies and their legal representation are seeking answers. Our panel of experts in cannabis law discusses what lawyers need to know about Cannabis 3.0 and how they can advise their growing list of dispensaries, growers, and other seed to sale clients.
VP of Cannabis Practice at Embroker Jeff Samuels joins panelists Nathalie Bougenies, Hemp CBD Practice Group at Harris Bricken; Sahar Ayinehsazian, Partner, Vicente Sederberg LLP; Lauren A. Rudick, Corporate Attorney, Hiller; and Jared Correia, CEO of Red Cave Legal. The webinar covers the rapidly developing spectrum of cannabis products, and the equally complex legal implications. Listen if for answers to questions like:
– In the legal industry, this is no doubt attracting dabblers to a highly specialized field. What are they finding? What do the cannabis veterans on the panel think about this dynamic?
– Are non-cannabis lawyers entering the space by necessity as, say, a store chain they represent wants to start carrying cannabis products? Did they get involved in a transaction that involves a cannabis business? Or are they trying to become bona fide cannabis lawyers?
– This is a niche field with specialized expertise. What overarching advice do you have for lawyers becoming involved with it?
– What are we seeing in terms of insurance support for the industry?
– Are the established cannabis lawyers rapidly scaling up as this business makes mainstream inroads?
Definition / background of 280(e) โ (essentially, you canโt deduct business expenses for drug businesses in federal tax law, leading to extremely high tax rates for cannabis companies)
– What could trigger cannabis accounting rules for varied types of clients?
– How big of a threat is this? Are cannabis-adjacent clients becoming at risk? How aware do non-cannabis specialists have to be?
– What lawyers need to do to guard against this risk, and the pitfalls of not doing so.
– How does 280 E impact insurance ?
– Are there any parallels in CBD/hemp? What products are exempt from this, where does this kick in, and why? Some examples of products that are on the fence of being subject to this?
Accepting cannabis business isnโt actually illegal for banks โ but there are extensive rules for banks. What are they? How are banks navigating this?
– How can cannabis businesses access the financial system? What are the alternatives?
– Are there any parallels in CBD/hemp? What products are exempt from this, where does this kick in, and why?
– Difficulties getting patent and trademark protection for cannabis products
– How does this play a role when insurance is involved in the M&A?
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