I previously wrote about how the cannabis industry should prepare itself for tough financial times. Capital is increasingly hard to come by unless you find yourself in a newly launched state like New York, perhaps. But once a state cannabis program is relatively mature, it’s only a matter of time before it’s a race to
The Washington State Liquor and Cannabis Board (“WSLCB”) published an industry update on October 25 detailing a recent increase in complaints by cannabis producers and processors of “pay to play” terms. Apparently, some cannabis producers and processors have been paying retailers to acquire shelf space for their cannabis products. These arrangements have become prominent enough
We have been reviewing a raft of Oregon Liquor and Cannabis Commission (OLCC) proposed rules that could significantly affect the Oregon marijuana industry. These proposed rules have implications for licensees, potential licensees and even people doing business with industry like landlords and lenders. Everyone, really. You can find the first three posts in our series
Amazon’s prohibited product algorithm gets drug paraphernalia analysis wrong Amazon’s prohibited product algorithm is creating issues in the ancillary cannabis business space. In doing so it directly contradicts the company’s pro-cannabis public image. On September 26, Seattle Times reporter Lauren Roseblatt wrote an interesting article describing Amazon’s abrupt removal of an herb grinder company’s (“Golden
Oregon doesn’t want any new cannabis businesses. This turnabout happened rather quickly. Until this spring, the Oregon Liquor and Cannabis Commission (OLCC) issued most types of cannabis licenses to anyone who qualified under relatively broad parameters, through a cheap and simple licensing process. Oregon was even the first state to open its program to non-resident
Cannabis Recession on the Horizon A cannabis recession may be coming and no cannabis business is immune. Prices are rising, operations are expensive to run, over regulation is rampant, local control is stifling, and you can’t even take many business deductions with the IRS because of IRC 280E. While things like interstate commerce agreements are
The struggles of failing marijuana businesses to wind down and pay creditors in an orderly fashion serve no one. Among the problems marijuana businesses face such as lack of access to banking and onerous taxation stemming from IRC 280E is the lack of access to bankruptcy proceedings. This post discusses a Michigan-based medical marijuana company
Contract dates are among the most basic, fundamental aspects of any contract– cannabis or otherwise. Nevertheless, parties often mess them up or overlook them in potentially disastrous ways. Today, I want to look at a few key contract date issues and what they mean. Key contract date terms An execution date is the date on which
I like being a cannabis business lawyer. It took a while for me to get there. I certainly didn’t think I would be doing this while I was in law school, or at the start of my career. Like a lot of things in life, it just sort of… happened. And I’ve learned a lot
Many folks in the cannabis industry – especially legacy operators – have little to no experience with corporate governance. I don’t mean to say that they don’t know how to run a business; they likely do. What I mean when I refer to corporate governance is the actual process of adhering to governance agreements, getting
