New York is beginning its search for a fund manager for New York’s $200m social equity cannabis fund. In January of 2022, Governor Kathy Hochul announced that New York is proceeding with the $200m fund (as contemplated in the Marijuana Regulation and Taxation Act (MRTA)), with $50m of funds committed by the State and a
Last week, a coalition of major food and beverage companies (self-identified as “consumer packaged goods companies”) asked Congress to do more about the growing number of copycat THC edible products and counterfeit trademarks piggybacking off of their well-known items. The letter was signed by the Consumer Brands Association and fourteen other associations and companies, including
With so many new proposals for reconceptualized federal cannabis legislation floating around Congress, this summary should help clarify the differences to distinguish each bill from the others. This post will cover the MORE Act, the PREPARE Act, the States Reform Act, and the Cannabis Administration and Opportunity Act. Part two in this series will cover
Register HERE! Protecting and monetizing intellectual property (IP) assets in the cannabis industry is a critical step for many businesses. Enforcement of valuable IP rights against infringers may also be vital to a cannabis business’s success. The cannabis industry is highly dynamic and competitive. In addition to state and local rules, the Schedule I status
Foreign investors (often in countries that prohibit cannabis) are eager to invest in burgeoning state cannabis markets in the U.S. This can often go very wrong, especially if the investor gets bad legal or tax advice. Our cannabis attorneys and our foreign direct investment team have seen these problems crop up again and again. Today,
Investors in marijuana businesses face many risks. To name just a few: the subject of their investment is illegal under federal law; the businesses in which they are investing face heavy tax burdens because of IRC 280e; and the lack of access to banking services means businesses operate nearly exclusively cash, which makes tracking sales,
This Thursday, May 5, come hear Harris Bricken’s Simon Malinowski host an “Ask Me Anything” at the Luxury Meets Cannabis Conference in New York City. Simon’s presentation will begin at 10am EST. During his AMA session, Simon will answer questions about cannabis licensing and compliance, with a specific focus on cannabis and CBD licensing under
Unfazed by the federal leadership vacuum on cannabis, states continue to roll out cannabis proposals and programs. A total of 34 states considered cannabis reform proposals in 2021. Another 32 proposals (some of them pre-filed in 2021) are up for discussion here in 2022. These proposals range from limited decriminalization measures to comprehensive, adult use
Like all commercial litigation, cannabis business litigation is expensive and in most circumstances a party cannot recover its attorneys’ fees. The exception is where recovery is authorized by a contract or a statute. This post discusses how a party in commercial litigation—whether involving cannabis or not—can use an Offer of Judgment to leverage a more
The Caribbean is questioning its enduring ties to the British Crown, as it seeks to fully turn the page on its colonial past. During the next few years, we will likely see several of the independent Caribbean nations that maintain constitutional ties to the British monarch become republics, led by local heads of state. These
