The Difference Between Chapter 11 and Chapter 7 Bankruptcy

The Difference Between Chapter 11 and Chapter 7 Bankruptcy

When a company cannot repay its debts in challenging financial circumstances, the business may be forced to declare bankruptcy. However, different types of bankruptcies exist depending on the business type and specific situation. Working with an experienced Dallas law firm that specializes in helping companies succeed, like Ritter Spencer Cheng PLLC, can make it easier to determine which type of bankruptcy a company should file to eliminate existing debt and yield a clearer opportunity for future success. Below we explain the differences between Chapter 11 and Chapter 7 bankruptcy for businesses. 

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Why Contracts Are Essential During a Recession

Why Contracts Are Essential During a Recession

Every economy is cyclical, and recessions are relatively common. A recession caused by a global pandemic, however, is a reality few were prepared for. Whether a typical recession, or a worldwide economic shutdown, situations like these emphasize the importance of contracts for business owners across the country. Dallas law firm Ritter Spencer Cheng PLLC helps businesses utilize contracts that safeguard your business interests and prepare your company for challenging financial situations. Discover why contracts are essential during a recession and how these documents can help protect your business.

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New Jersey Officially Legalizes Marijuana After Years of Efforts

New Jersey Officially Legalizes Marijuana

After several years of failed attempts and efforts, New Jersey finally legalized marijuana on Monday, February 22, 2021, when Governor Philip D. Murphy signed three bills into law. These bills permit and regulate the use of recreational marijuana in the Garden State (with some strict stipulations) and focus on community outreach for previous marijuana-related convictions. The legalization of marijuana in New Jersey comes after a long run of unsuccessful attempts and hopes to end the era of arrests and ambiguity. Below, we take a closer look at New Jersey’s path to legalization of marijuana, as well as the recently enacted legislation itself.

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Further Expansion of Texas’ Compassionate Use Program with H.B. 1535 in 2021

Further Expansion of Texas Compassionate Use Program

After establishing the Texas Compassionate Use Program in 2015 and augmenting it in 2019, Rep. Stephanie Klick (R) has once again initiated expanding the program with an incremental approach. With several beneficial provisions, this bill will potentially be the most effective and favorable legislation regarding medical marijuana reform in Texas. Although there are more comprehensive medical marijuana bills in other states, H.B. 1535 presents a significant opportunity for the Texas cannabis community. 

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Economic Recovery in 2021 – What Can Businesses Expect?

Economic Recovery in 2021 – What Can Businesses Expect?

After a tumultuous 2020, many business owners wonder what the economy both in the United States and abroad will look like in the new year. While all the effects of the coronavirus pandemic are far from predictable, the experienced team at the Dallas law firm, Ritter Spencer Cheng PLLC, has researched a few possible directions the 2021 economy will go. Read below to learn about our thoughts on economic recovery in 2021 and what businesses can expect.

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The Introduction of the Hemp and Hemp Derived-CBD Consumer Protection and Market Stabilization Act of 2021 and What It Means for the CBD Industry

CBD Consumer Protection and Market Stabilization Act of 2021

On February 4, 2021, the Hemp and Hemp Derived-CBD Consumer Protection and Market Stabilization Act of 2021 was re-introduced to the United States House of Representatives, sponsored by Reps. Kurt Schrader (D-OR) and Morgan Griffith (R-VA), as well as 17 additional co-sponsors. This is an exciting development for the hemp and cannabidiol (“CBD”) industries, as widespread support has already been shown for this bill. As the bill continues to make headway, it’s important that the hemp and CBD communities help get this legislation passed. Julia Gustafson, the VP of government relations for the Council of Responsible Nutrition (“CRN”), referred to the bill as “critical” toward the development of safe and stronger dietary supplements on the market. 

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A Recap of the Establishment of the United States Domestic Hemp Production Program

Recap of the Establishment of the Domestic Hemp Production Program

The United States’ hemp industry is a constant work-in-progress; however, the country has made significant strides in establishing a domestic hemp production program. The United States Department of Agriculture (“USDA”) recently released its final rule, which has been long-awaited by the hemp community. Read below for a recap of recent progress as a reminder to continue putting forth effort and energy toward uniform cannabis legislation in the United States.

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Trademark Protection for Cannabis Businesses

Trademark protection for cannabis businesses

As the medical marijuana, hemp, and CBD industries are still relatively new, many cannabis business owners are unsure whether they qualify for trademark protection or not. The 2018 Farm Bill clarified the legal distinction of hemp from marijuana and the status of popular cannabinoids and derivatives, such as CBD. Accordingly, positive changes regarding hemp-based trademarks have taken place, which the United States Patent and Trademark Office (“USPTO”) outlined in an Examination Guide in May of 2019. Below, we outline the basics of trademarking with a focus on cannabis and hemp products at the federal and state level. 

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5 Things to Know About Trademark Infringement

5 Things to Know About Trademark Infringement

Trademarks are common as companies make efforts to stand out in competitive industries. However, in this pursuit of differentiation, some businesses may take inspiration from a competitor’s creative assets. These actions risk infringing on the trademark of the business that registered the concept with the United States Patent and Trademark Office (USPTO). Trademark infringement cases can be complicated, which is why companies should work with an experienced Texas trademark lawyer from Ritter Spencer Cheng PLLC. Read below to learn some of the basics of trademark infringement and what legal options are available to businesses with a registered trademark.

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CBD-Infused Alcohol: Still Awaiting a Toast

CBD-Infused Alcohol

Breweries, distilleries, and wineries with ambitions of infusing or selling their beverages with cannabidiol (“CBD”) and/or tetrahydrocannabinol (“THC”) derived from hemp will have to wait for a change in law by the U.S. Alcohol and Tobacco Tax and Trade Bureau (“TTB”), or a divergent conclusion by the United States Food and Drug Administration (“FDA”) finding that these beverages fall into a legal exemption. On April 25, 2019, the TTB, which regulates the alcohol and tobacco industries in the United States, issued an industry circular as a response to numerous inquiries from the alcohol and hemp/CBD industries about whether CBD or THC can legally be introduced into alcoholic beverages: the TTB made it clear that, at this time, it will not approve formula or label applications for alcoholic beverages containing CBD or THC. 

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