The Future Of Cannabis Law: From 'Unthinkable' To Essential
These are unprecedented times for the cannabis industry – learn about the latest trends from the experts.
Lawyering for the cannabis industry used to mean practicing criminal defense, but these days, the field is wide open. The industry is broad, offering so much opportunity and change that lawyers in nearly every area of practice have something to contribute.
To be the most valuable advisors in this fast-growing sector, lawyers serving the industry should stay on top of trends, advises Shabnam Malek, partner at Brand & Branch, LLP and a co-founder of the International Cannabis Bar Association, who chairs the Practising Law Institute’s (PLI) Cannabis Law: Business Fundamentals program.
Of course, lawyers must keep up with cannabis and hemp-related state (and federal) laws and regulatory schemes that affect all aspects of business. For instance, Malek says, “Transactional lawyers need to understand the rules, regulations, and licenses pertaining to ownership structures, how and whether a license can be ‘sold’ or transferred, and what the emerging trends are on raising funds to support growing businesses.”
In addition, lawyers working in advertising and intellectual property must understand how advertising laws and regulations differ state by state and that packaging and labeling laws are also unique to each state. Malek explains: “These differences can affect brand development and use of brand elements, especially when advising clients operating in more than one state. And let’s not forget that the federal agencies are still watching this industry – rules pertaining to false advertising and health claims can still be enforced if your clients aren’t in compliance.”
No matter their practice area, all lawyers must keep an eye on the shifting rules of professional conduct as states may make changes at any time to how, when, and whether a lawyer can represent a cannabis company, take equity in a client company, or serve as in house counsel. “This is merely the tip of the iceberg,” Malek says.
“The skyrocketing interest in and demand for cannabis law-related programming is indisputable,” says Laxmi Rees, Director and Program Attorney, California Center at Practising Law Institute. “For this reason, in addition to our full-day program covering regulatory, financing, intellectual property, litigation, substance abuse and ethics issues related to cannabis law, PLI also offers further related program content, as well as a comprehensive treatise that is updated regularly. All of this would have been unthinkable even a few years ago.”
While it’s hard to predict what lies ahead, this practice area is only moving forward. Additional states are coming online with adult use programs, while medical marijuana programs continue to exist – and, in some states, these are the first step in the legalization movement. And with a new Administration, the industry is keeping an eye out for impending change in federal law and policy.
Malek concludes: “The most important part of all of this is ensuring that legalization models match the needs of this emerging industry, that past wrongs are righted, and that regulations are reasonable and promote consumer safety, patient safety, and social justice goals. Who better than the lawyers of today to help usher in the new world of cannabis legalization tomorrow?”
To learn more, register for PLI’s on-demand program Cannabis Law: Business Fundamentals. The 2021 edition of the PLI Press treatise Legal Guide to the Business of Marijuana: Cannabis, Hemp and CBD Regulation is newly updated with the latest on regulation of CBD products, the Final Rule for the Establishment of a Domestic Hemp Production Program, and the laws of the latest states to adopt some form of cannabis legalization.
Practising Law Institute is a nonprofit learning organization dedicated to keeping attorneys and other professionals at the forefront of knowledge and expertise. PLI is chartered by the Regents of the University of the State of New York and was founded in 1933 by Harold P. Seligson. The organization provides the highest quality, accredited, continuing legal and professional education programs in a variety of formats which are delivered by more than 4,000 volunteer faculty including prominent lawyers, judges, investment bankers, accountants, corporate counsel, and U.S. and international government regulators. PLI publishes a comprehensive library of Treatises, Course Handbooks, Answer Books and Journals also available through the PLI PLUS online platform. The essence of PLI’s mission is its commitment to the pro bono community. View PLI’s upcoming live webcasts here.
