It’s finally happening — Attorney General Jeff Sessions will, today, rescind the 2013 Cole Memo regarding federal enforcement in states that legalized cannabis. The Cole Memo, which came on the heels of marijuana legalization in Colorado and Washington back in 2012, set forth the Obama administration’s enforcement policies regarding state-legal marijuana. It set out eight
Recently, we covered the basics of cannabis supply contracts here on this blog. Supply contracts are used when Party A is selling pot to Party B in a responsible way. Today’s post looks at another form of cannabis contract: the contract packager (“co-packer”) agreement. Co-packer agreements are used when Party A is working with Party B
Asset forfeiture is a serious concern for cannabis businesses across the United States. The government has the authority to seize assets involved in the manufacture, importation, sale, or distribution of a controlled substance, such as marijuana, and in the past decades it has not shied away from using this power. What’s more, property seized by
Business planning is both science and art, research and forecasting. In cannabis, the forecasting quotient is challenging compared to other industries. That is because federal prohibition has created a dance around conflicts in law that is equally awkward and intricate, alongside an ever-evolving panoply of state and local rules. Our cannabis corporate attorneys field questions regarding federal prohibition daily,
Most cannabis businesses are small businesses. Many of them need money. Some of them have access to capital. And all of them are subject to fundraising laws. We build out canna (and non-canna) deals regularly in Oregon, Washington, California and elsewhere. Though some of our clients are publicly traded, the majority are closely held businesses
This post is about a panel discussion at the University of Washington School of Law called “Working in Weed”, that was held on On April 26, 2016. The discussion focused on employment and labor issues in the cannabis industry. The panelists were as follows: Lea Vaughn, Professor of Law at UW, with an expertise in
So you went and started a cannabis business. Congratulations! Now, here’s a question for you: what’s it worth? And if you don’t mind us asking: how did you make that determination? Is it supportable? Recently, we have written about the future of cannabis funding and the basics of investment rounds. The valuation question looms large
On January 28, 2016, San Diego police narcotics officers along with the San Diego Fire-Rescue Hazmat Unit raided MedWest Distribution, a California manufacturer of concentrated cannabis extracts, also commonly known in the marijuana community as “hash oil,” “honey,” “wax” or “shatter.” Cannabis extracts are produced through complicated methods of extracting cannabinoids (like THC and CBD)
When it comes to marijuana and taxes, there is no bigger buzzword than “280E.” However, there is still a lot of confusion about what exactly 280E is and does. In reality, section 280E is a single sentence of the Internal Revenue Code. It states: “No deduction or credit shall be allowed for any amount paid
If 2015 was the year of the marijuana recall, 2016 is going to be the year of marijuana recall response and planning. If your cannabis business does not already have a recall plan in place you are already behind the eight ball as the need to quickly pull cannabis products off the shelf is happening with increasing
