As the cannabis industry continues to grow in every sector, more businesses are turning to cannabis business lawyers and CBD business lawyers for guidance and counsel to better navigate legal processes and regulations. But what exactly is a cannabis lawyer, and why are they necessary? Where did they come from, and what do they bring to the table? Below, we break down the experience and importance of cannabis law firms to offer insight into their development and the benefits they provide.
What exactly is a cannabis business lawyer?
A cannabis business lawyer, also referred to as a marijuana business lawyer or a hemp business attorney, focuses on one or several areas within the legal cannabis industries, including marijuana, hemp, cannabidiol (CBD), or ancillary cannabis businesses. Primarily, a cannabis attorney helps individuals and entities in the industry navigate the complicated startup procedures, transactional and compliance requirements, extensive licensing processes, and other related challenges. While some cannabis lawyers specialize in one specific aspect of the cannabis industry in only one state, some are well versed in a variety of processes and regimes across several regions. Laws and regulations differ greatly from state to state and are constantly fluctuating, and different lawyers may be better suited for one circumstance over another.
What experience do cannabis business lawyers have, and where did they come from?
Most cannabis lawyers began their careers in a different practice area because cannabis legal groups are a relatively new practice. Additionally, cannabis law is a bit of a misnomer, as cannabis lawyers work within established practice areas such as transactional work, intellectual property, real estate, and others. With experience stemming from civil litigation, transactional law, trademarks, and other business litigation, cannabis attorneys often bring a well-rounded and beneficial background to help individuals through complex state and federal procedures. Cannabis lawyers also frequently transition from an existing industry, such as vaping or e-commerce, that moves into hemp and cannabis.
What types of processes can a cannabis business lawyer help with?
Cannabis lawyers assist individuals and cannabis entities in an array of different processes and actions. In such a highly regulated industry, every step of starting a cannabis business requires substantial compliance and significant licensing, and the regulatory expertise of an experienced cannabis lawyer becomes highly valuable. Licensing is of major importance to a myriad of cannabis businesses, including cultivators, extractors, dispensaries, manufacturing, and distribution. Additionally, cannabis attorneys offer support and guidance through the startup and formation of a company, marketing and advertising, packaging and labeling, banking and financing, taxes, and trademarks and copyrights on new strains or products.
What makes a qualified cannabis business lawyer?
When searching for a qualified cannabis business lawyer for your startup dispensary business or any hemp or cannabis entity, it is essential to identify demonstrated expertise in the industry. Though cannabis business attorneys are relatively new since the industry recently emerged, there are plenty of cannabis business lawyers that have experience in the hemp and cannabis industries. Look for cannabis lawyers well versed in your local and state regulations, but also in applicable federal law. Additionally, the best cannabis lawyers may offer connections and guidance throughout the cannabis industry and remain active in lobbying and legislative activity. This enables you and your business to stay up to date on cannabis, marijuana, and hemp trends, as well as legal fluctuation. The internet is a wonderful resource and you can often vet a cannabis lawyer simply by googling them.
The cannabis and CBD business lawyers at Ritter Spencer work with a myriad of clients in the marijuana and hemp industries, including the CBD market. We remain active in legislative activity in the cannabis fields and continue to represent hemp and legal cannabis companies for their business, transactional, and compliance needs. Contact Ritter Spencer or give us a call at 214.205.5070 for more information.