By 2028, the cannabis market will likely see a 32.04% growth. In spite of this fast growth, the industry has rules and regulations, and you must understand those to start up any sort of cannabis business. Woods Rogers Vandeventer Black (WRVB) has extensive business, regulatory, real estate, and cannabis law knowledge to help.

How Does Cannabis Law Affect the Modern Business?

The cannabis industry is growing at an astounding rate. In 2020, the global cannabis market size was worth $20.47 billion. By 2028, experts expect that to increase by over 32% to reach $197.74 billion. This tremendous growth gives cannabis businesses the chance to cash in on a trend that has a high potential value. Tapping into this market requires working with a legal team that understands both cannabis law and business law.

Medical marijuana use is changing the face of the marijuana and cannabis industry. As more and more states accept marijuana as an option to treat a variety of illnesses, making the drug legal, dispensaries and other businesses associated with marijuana, CBD, and other cannabis products are popping up in these communities.

This sets the stage for new business venture possibilities. From agricultural businesses that grow the plants to the marijuana businesses that sell them, the legalization of both medical and recreational marijuana is opening the door to a wide range of cannabis companies and business ventures. Many entrepreneurs are taking advantage of these opportunities and capitalizing on the growing market.

Complex Laws Surround Marijuana and Cannabis Sales

Even with the changing trends in the marijuana industry, including expanding state legalization of marijuana for recreational use, there remain complex laws surrounding the growth, sale, and use of these products. Cannabis law is complex, and it varies between states. Even local communities often have regulations in place that dictate how and when people can sell and use cannabis. Sometimes, state and federal laws are in opposition to each other, leaving potential businesses confused and in need of legal counsel.

Cannabis Legal Advice Necessary to Operate Legally

Cannabis business owners need legal advice to understand these rules and regulations. Cannabis lawyers also need to be well-versed in cannabis regulatory issues as well as other areas of law such as  real estate law, business law, intellectual property law, agriculture law, and other areas of law that can impact cannabis businesses.

Woods Rogers Vandeventer Black has extensive knowledge in all of these areas, and we are ready to help you utilize this growing industry to create an effective and profitable business. Our team is made of up experienced business and regulatory attorneys who can help you operate within these legal boundaries as you seek to tap into this growing market.

Marijuana is becoming legal in more and more places, with up to 18 states and Washington, DC as of the beginning of 2022. In addition, CBD products are sold throughout the country. You can capitalize on this growing trend and promising business option with the right legal guidance. Woods Rogers Vandeventer Black is here to provide it.

Here are some of the ways our law firm’s unique knowledge and experience can help your cannabis-related business grow and thrive while operating within the bounds of the law.

Cannabis Businesses and Financing

Banking and financing are two areas in which cannabis impacts the business world. In order to start a medical cannabis or recreational cannabis business, business owners must have funding. There are numerous legal issues surrounding funding for these types of businesses, and both businesses and lenders must understand cannabis business laws.

For example, loan processors need to know whether or not cannabis businesses are legal in their community. They also must understand the federal laws that impact cannabis sales, so they can ensure they provide funding to legal business entities. Dispensaries and other cannabis businesses need to understand financing law and be confident they are complying with the law as they start their business. This understanding is key as they grow their businesses.

Working with finance attorneys who understand cannabis law important. WRVB attorneys have extensive business law experience and knowledge to put to work for you.

We represent both lenders and business owners and have handled billions of dollars of commercial loan closings. You can count on our experience and knowledge to ensure you protect your collateral and security interests in a commercial business deal.

Cannabis Businesses and Business and Licensing Laws

In addition to the complex statutory and regulatory laws that govern cannabis businesses, other areas of law apply to nearly every aspect of cannabis businesses. It is important for cannabis businesses to understand and be prepared to comply with these laws in order to operate legally.

These laws include:

  • Licensing laws: Any licensure that directly impacts cannabis and business operations in a state or locality.
  • Intellectual property laws: When creating marketing materials, product names, advertisements or other intellectual property,  cannabis businesses must comply with intellectual property laws that protect the intellectual property rights such as trademarks, copyrights, and patents, of both the cannabis business and other businesses.
  • Environmental laws: The growth, manufacturing, and processing of cannabis products and marijuana must comply with all environmental laws.
  • Regulatory compliance: Cannabis businesses must also follow regulations surrounding both the cannabis industry and other relevant regulations.

WRVB has a wide range of business law services that cover all of these needs. Our business attorneys can assist with license applications, mergers and acquisitions, environmental law concerns, and other business legal services. We can also help you fight copyright infringement cases and help with protecting your intellectual property as you seek to create and run a legal cannabis business in your local community.

Commercial Real Estate Law and Cannabis

Because most cannabis businesses operate in a physical location, commercial real estate laws apply to them. Land use and zoning laws are some of the most important to consider when setting up a business. For example, growers need to ensure they are operating in an area zoned for agricultural use, while those selling cannabis need to set up their operations in a location zoned for retail or office space.

Our attorneys can assist with all aspects of your commercial real estate operations. We know how to decipher real estate contracts and assist with the sale and acquisition of property, so you are certain that you properly protect your interests.

Protect Your Financial Interests with a Real Estate Attorney

Because commercial mortgages and leases are high-value contracts, these are not decisions to take lightly. You want the right legal and financial guidance as you move forward with any type of commercial real estate transaction. Making a mistake here leads to costly repercussions in the future. We can help. Our legal team understands commercial mortgage financing, development law, and property management law. We also understand zoning and land use laws and can assist with the sale, purchase, or lease of commercial property.

Other Cannabis Law Concerns

Additional areas where our practice group can help your cannabis business excel include:

  • Corporate formation: As your group grows, you may decide to incorporate or form another type of business entity, and we can help you choose the right structure and manage the paperwork for this process.
  • Construction law: Should you decide to build, you can count on our construction legal team to assist with construction regulations and laws.
  • Commercial litigation: WRVB has several litigators skilled in all aspects of commercial litigation. If you face a lawsuit, you will have a team of attorneys on your side to help fight.
  • Cybersecurity: Cybersecurity is a critical concern for all businesses including healthcare businesses, and cannabis businesses are no exception. We will help you ensure your business is following all rules and regulations to operate a secure business that protects the data your customers, clients, and patients provide.
  • Government regulations: The cannabis industry has multiple federal and state regulations that you must follow to operate legally.
  • Labor and employment law: If you hire employees, you must pay them fairly and follow state and federal labor and employment laws.
  • Tax law: Paying your taxes on time is a necessary part of running any type of business, including a cannabis business. There are unique tax considerations for cannabis businesses.

Because our cannabis attorneys are also practicing in business, real estate, and finance, we are able to assist with all of these ancillary needs and more. This makes our law firm a logical choice as you search for someone who can help you grow an adult-use cannabis business from the ground up. We are the one-stop resource you need to start and run a legal cannabis business.

CBD and Cannabis Disclaimer

Please be aware that possessing, using, distributing, and/or selling marijuana or marijuana-based products is illegal under federal law, regardless of any state law that may decriminalize or legalize such activity under certain defined circumstances. Although federal enforcement policy may at certain times defer to states’ laws and not enforce conflicting federal laws, interested businesses and individuals should be aware that compliance with state laws in no way assures compliance with federal law, and there is a risk that conflicting federal laws may be enforced in the future, regardless of states’ laws. No legal advice we give is intended to provide any guidance or assistance in violating any federal, state, or local law.

Multi-jurisdictional Practice

Our law firm holds licenses to practice in 11 jurisdictions, including:

  • District of Columbia
  • Florida
  • Maryland
  • Massachusetts
  • New Hampshire
  • New Jersey
  • New York
  • North Carolina
  • Pennsylvania
  • Virginia
  • West Virginia

Extensive Cannabis Knowledge

You want a legal team that understands the cannabis industry and its unique set of regulations. That legal team is Woods Rogers Vandeventer Black. We have watched as the cannabis industry has grown, and we have followed the federal rules and regulations as well as the local laws in our legal jurisdictions. Thus, we can provide accurate and timely guidance for you.

Whether you are starting up a new medical marijuana business, retail cannabis business, or have a cannabis business that is already operating but faces a legal concern, you can count on WRVB to help you grow, manage, and operate your business. Throughout it all, you will have a professional legal team on your side to represent and guide you however you need.

A Qualified Business Legal Team

Growing a cannabis business is also, at its very heart, a business endeavor. This means that in addition to cannabis law knowledge, you want to partner with a legal team that understands the intricacies of running a business.

Our team has extensive business experience, and we have been in practice since 1883. We also have extensive knowledge of the cannabis industry and the rules and regulations that surround it. We have a passion to help our clients find their success, and we have a passion for protecting the attorney-client relationship. You can count on our legal team to provide honest, ethical, and knowledgeable advice as you enter the growing cannabis market.

DISCLAIMER

This information is for informational purposes only; the information is general and may not reflect the current state of the law.  Contents are provided “as-is.”  Information on this website should not be considered professional legal advice and should not be acted on without consulting a qualified lawyer in the appropriate jurisdiction.

Please be aware that possessing, using, distributing, and/or selling marijuana or marijuana-based products is illegal under federal law, regardless of any state law that may decriminalize such activity under certain defined circumstances.  Although federal enforcement policy may at certain times defer to states’ laws and not enforce conflicting federal laws, interested businesses and individuals should be aware that compliance with state laws in no way assures compliance with federal law, and there is a risk that conflicting federal laws may be enforced in the future, regardless of states’ laws.  No legal advice we give is intended to provide any guidance or assistance in violating any federal, state, or local law.

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