In the next decade, the cannabis business is expected to reach $85 billion in revenue in North America alone. Cannabis investment is booming, with large and small companies considering manufacturing, sales and service opportunities for hemp, a non-psychoactive form of cannabis, and hemp-derived cannabidiol (CBD). In spite of its growing popularity and business potential, there are ongoing questions about how companies should lawfully pursue the sale, use and transport of some hemp and CBD products. The way CBD is regarded by the federal government's regulatory agencies is shifting, and cannabis service providers have liability concerns.
- Work with food and beverage companies on the changing legal environment governing the addition of hemp or CBD to various products.
- Evaluate potential hemp industry transactions for compliance with both federal statutes and the patchwork of state laws.
- Advise on the legal status of providing services to cannabis businesses.
- Assist financial institutions on developing policies for potential CBD account holders.
- Provide guidance on international transactions and the interaction of foreign law and U.S. law.
Cannabis Law Compliance and Regulatory Advice
As CBD has emerged as a new industry, cannabis businesses need lawyers with a deep understanding of this sector. Our team has helped a range of businesses in the cannabis industry, including:
- Institutional investors
- Private equity firms
- Food and dietary supplements companies
- Cosmetics companies
- Pharmaceutical companies
- Transportation companies.
We take a multidisciplinary approach to advising our clients by harnessing the resources of our full-service firm. Our cannabis group works with the firm’s related practices—including public law and policy, regulatory, corporate, trade, private equity, investment management and employment—to guide cannabis businesses through every type of issue that arises.
Public policy and regulatory. We help companies in their efforts to change the federal laws and regulations governing cannabis and CBD, including congressional representation. Our team works on all aspects of cannabis regulation, communicating with key regulatory bodies having cannabis within their purview, including the USDA, the FDA and key congressional committees such as the House Appropriations Committee and the U.S. House Committee on Financial Services. Our lobbying work includes appropriations, banking and financial regulation.
Corporate. We advise companies on the legal status of providing services to cannabis businesses, including auditing, banking, real estate and general commercial services to businesses.
Trade. We advise businesses on the status of imports, the interaction of foreign law with U.S. law and the scope of participation in overseas cannabis transactions. We help clients who are dealing with customs enforcement and the interaction of Customs and Border Protection with the Drug Enforcement Administration (DEA) and the FDA.
Private equity and investment management. We advise on the legal rules and regulatory responsibilities governing cannabis investment.
Employment law. We assist businesses with the complexities of various state laws governing the use of cannabis relating to workplaces.