Cannabis companies move a million miles an hour. Many cannabis companies don’t spend nearly enough time focusing on the “basics,” such as corporate governance and getting things in writing (for more posts on why handshake deals are bad, see articles linked at the bottom of this post). Another area where many cannabis businesses need some
We’ve written a lot recently about how cannabis companies are falling on tough economic times in this roiling economy. When times get lean, cannabis companies need to innovate and get more competitive with services and product offerings. This is in addition to consolidation, cost cutting, and going after third parties that owe you money. One
Corporate governance is a basic requirement of any business. So of course, cannabis businesses often just ignore it. Some of them may pay a lawyer to put together a simple set of bylaws and an organizational resolution (or operating agreement for an LLC), and then basically close their files until something “big” comes up. This
A “subpoena” is used in cannabis litigation (or any litigation) when third-party witnesses or documents become necessary for a lawsuit. Over the years, we’ve seen the need for subpoenas come up in a variety of contexts. Below is a primer on what to do as a recipient of one: What is a subpoena? There are
We all know the Oregon cannabis industry is struggling. We write often about the causes on a macro level, possible solutions, and what we see as business litigators. We haven’t written much about one of the basic areas of employment law that applies to Oregon marijuana businesses: workers rights to wages and employer responsibilities. As
In an era of Theranos, Fyre Fest, FTX and WeWork, cannabis scams, frauds, and scandals probably pale in comparison. However, cannabis scams (and their evolution) are still worth noting, spotting, and avoiding at all costs. I’ve written about cannabis scams in the past (see here), and it’s one of my favorite topics given the still-emerging
On this hallowed 4/20, while consumers and businesses celebrate cannabis near and far (which is great!), it’s important to be mindful that the cannabis industry is getting financially pummeled nationwide. For the cannabis companies able to survive this rocky time, cannabis collections are becoming an increasing headache as other cannabis businesses fold and/or just ignore
The Safe Banking Act, also known as the Secure and Fair Enforcement Banking Act (SAFE Banking Act), is sorely needed legislation to address the critical issue of financial services being denied to marijuana businesses that operate in the state-legalized industries. We’ve written extensively about the SAFE Banking Act over the past several years. See here,
The cannabis industry is in dire straits, perhaps even in a recession. Cannabis businesses cannot seek standard bankruptcy protections and are looking for creative ways to deal with the distressed market. As companies look to shake off unproductive assets, our cannabis group has fielded tons of inquiries about how to deal with depressions in the
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
