Management + Business Acumen

How Law Firms can get involved in Cannabis Law

Proposed by Amanda Ostrowitz, CEO of Regs Technology. She can be a solo speaker or part of a panel.

 

This is detailed, so this might be a good candidate for a deep dive or we can focus on portions. While this description focuses on the practicalities of law firm governance, there are real Research & Analysis components, as well. We can bring these practicalities to the attention of our Executive Committees. Perhaps, there are also Government Libraries that could find some tools. And research resources for the Academic Libraries.

 

Part 1: Background. This section will give a brief overview of the current status of cannabis legalization, an overview of which state allow medical and/or recreational cannabis, and some statistics on current law firm involvement in the cannabis space.

Part 2: Practical steps. In this part we will discuss practical implications for setting up a cannabis practice group within your law firm. This will range from the physical resources needed and marketing strategies, administrative tasks, implication on malpractice insurance, and other impacts this may have on your existing practice groups and clients.

• Important steps regarding your Malpractice insurance

• Partners vote

• Considerations regarding impact on current practice areas (ex. Pharma practice)

 

Part 3: Types of Specialties needed in the cannabis space. In the portion we ill explore the various practice areas whose specialties can be applied to the cannabis industry, and gaps in expertise that present a huge opportunities for exisitng law firms.

• Environmental law

• Water law

• Tax law

• Real estate law

• Banking law

• IP

• Patent

• Corporate formation

• Food & beverage

• Employment

• M&A

• Securities

 

Part 4: Case Studies: A look at some law firms who have entered the cannabis space and why they are thriving. Each of the firms we will look at has approached the industry in different ways, with varying geographic and practice group involvement. They also have varying reasons for entering the space. In this portion we will look at a few different firms and explain how, why and when and where they got involved in cannabis.

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Idea No. 347