Anyone familiar with the cannabis industry knows how difficult it is to make money. Things are going to be even worse for people in the state-legal psychedelics industry – much worse. There are a few key reasons for this. I should note that this post is focused on the state-legal psychedelics industry (i.e., service centers)
The Oregon psilocybin program has a residency requirement. I explained how it works here, and wrote “queue the crazy business structures.” Because the program is off to a slow start (see here and here) I haven’t received as many crazy requests as expected. Well, that changed last week when I received a proposal that made
Oregon is the first state to launch a regulated psilocybin industry. Following the mid-term election results, we know which cities and counties in the Beaver state will allow licensed psilocybin businesses in 2023. Regulated businesses will fall into three broad categories: manufacturers, testing labs and service centers. All of these psilocybin companies will need leases.
Oregon psilocybin licensing kicks off in just over a month. We are finally in the home stretch of the two-year run-up following the passage of Measure 109. At this point, many people are forming psilocybin businesses and raising money for these new ventures. What’s old is new again We went through similar business structuring and
Our Oregon office has been setting up psilocybin companies for clients. This is meat-and-potatoes work for us, as we’ve formed hundreds of schedule I substances businesses in Oregon over the years. I’m referring to cannabis businesses, but psilocybin is similar. Like cannabis companies, most new psilocybin companies end up registering as either LLCs or C-corps.
The psychedelics movement has a benevolent streak, which may create an influx of benefit companies in the regulated space. In Oregon, the state will regulate the actual practice of medicine out of the program, but many industry operators — manufacturers, service centers and facilitators — are interested in health aspects of psilocybin use nonetheless. Others
It’s important for a psilocybin business to operate with written agreements, well ahead of licensure. This post explains why. Statutes and common law are “one size fits all” In Oregon, as in all 50 states, companies are subject to statutes that govern their members, managers, shareholders, directors and officers. The statutes are back-filled by common
Businesses and individuals will begin applying for Oregon Health Authority (OHA) psilocybin licenses in two short months. We have been helping people form businesses and raise funds in anticipation of the new program. In some deals we represent the investors; in others we represent the business. This blog post will cover five important considerations for
Last week, we presented a psychedelics webinar entitled “How to Protect Your Psychedelics Business.” The panelists were Paul Coble from our Phoenix office), me (Griffen Thorne from our Los Angeles office), and Graham Pechenik of Calyx Law in San Francisco. In the webinar, we presented on business law and intellectual property issues that will affect
Welcome to the fifth installment in this series surveying business and regulatory issues in the Oregon psilocybin program. Today I will cover intellectual property considerations for Oregon psilocybin businesses. My law firm has written and presented many hundreds of times on intellectual property and controlled substances over the years. Mostly, this material focused on the
