Over time, I’ve heard many variations on a sure remark I’d like to deal with. The remark is: “I considered calling you for the challenge, however it wasn’t a hashish matter.” It’s an actual intestine shot, listening to these harmless phrases.
I totally perceive why somebody would suppose they want a non-cannabis lawyer to deal with a non-cannabis matter. The consumer thinks of their hashish lawyer as a specialist, whereas another lawyer or legislation agency might specialise in “common” enterprise issues. Actually, it’s most likely my very own fault shoppers suppose this manner half the time. All we ever speak about is hashish!
Chances are high, nonetheless, that your hashish lawyer is a reasonably good enterprise lawyer. Stated one other approach, you probably have a proficient hashish lawyer, you possible have a proficient enterprise lawyer. Beneath are a few causes.
Hashish legislation is enterprise legislation
A big majority of the “hashish legislation” we’ve performed on the agency is enterprise legislation, with a managed substance overlay. Similar to legal professionals who concentrate on healthcare, banking, tech, or different industries, a hashish lawyer helps shoppers navigate compliance, contracts, funding, disagreements, and so on.
Typically talking, the underlying authorized work performed by a hashish lawyer is identical as in different enterprise sectors. What distinguishes hashish legislation shouldn’t be the kind of authorized abilities required, however the distinct regulatory overlay. Hashish legislation is dynamic and infrequently advanced, arising from federal illegality and all it entails. Attorneys who work with state-licensed hashish companies must be sound enterprise legal professionals, but in addition versatile and creative.
Hashish offers have vary
Deal measurement within the hashish house is — and at all times has been — particularly extremely variable. We now have seen waves of small enterprise exercise through the years, alongside large-scale funding and a rash of U.S. firms uplisting on overseas exchanges (mostly in Canada). And all the things in between.
I’ve had days the place I labored on 100-page agreements with dozens of schedules and displays, involving advanced indemnities and disclosures for widely-held firms, then turned to 10-page leases for mom-and-pop shops. The bigger offers are extra refined and require heightened experience, however the small offers are generally tougher, resulting from budgetary constraints and clientele. A enterprise lawyer who has spent sufficient time within the hashish house will possible have vary.
Hashish legislation hasn’t been round all that lengthy
One of the best hashish legal professionals I do know are enterprise legal professionals who began out doing one thing else. The primary adult-use hashish applications didn’t roll out till 10 or so years in the past. Most of us had been doing different issues earlier than then. Enterprise issues! We had been typically doing this work at different legislation corporations, in collaboration with different enterprise attorneys. And we’ve continued to take action alongside our hashish trade work.
Within the early days of grownup use hashish applications, legal professionals and legislation corporations had been cautious. The pioneering attorneys had legal legislation backgrounds and helped with small transactions, licensing and compliance. Among the enterprise recommendation wasn’t good; some was OK. In time, extra legal professionals and legislation corporations (together with giant legislation corporations) entered the house, and extra refined offers and fights ensued. Many of the “hashish legal professionals” dealing with these subsequent technology offers, got here from different areas.
It’s laborious to do hashish legislation, solely
The hashish trade has been within the doldrums, just about since COVID. For that reason, trade service suppliers have thinned out. This consists of on the authorized entrance. The enterprise legal professionals who stay are typically sturdy hashish legal professionals, however are additionally good in different areas. To wit, prior to now week I’ve labored on:
- An M&A take care of a sizeable A.I. firm absorbing one other A.I. firm, by a reverse triangular merger. Nothing to do with hashish.
- A 3PL agreement for a big attire firm, to end in commerce platforms and storefronts in and round Shanghai, China. Nothing to do with hashish.
- Negotiation of a proposal and partnership settlement for a senior lawyer to affix an AM 200 outfit. Once more, nothing to do with hashish.
- Three or 4 hashish enterprise gross sales, and related transactions. Hashish legislation all the best way.
In case your hashish lawyer can do M&A, or financing, or actual property, or litigation, or any of this stuff in a dicey, regulated house, then they’ll possible do it elsewhere. Actually, they most likely already are, and had been, lengthy earlier than they met you.
When you like working along with your hashish lawyer, and you’ve got another sort of challenge or know somebody who does, hold that lawyer in thoughts. Most hashish legal professionals are enterprise legal professionals, in any case. And they’re competent, creative, resourceful ones at that.
