Is my Cannabis Business Lawyer Undertaking Enough for My Marijuana Business?
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A client recently asked me for any lawyer referral in a state where we don't have an lawyer around the ground. It was for any real estate and marijuana license acquisition handle each of the usual complications: finding approval from state licensing authorities and local authorities, obtaining money into escrow from many sources, engaging in (very) last minute face to face negotiations, and recording property and security interests using the state and county. It is the kind of deal exactly where the client wanted boots on the ground, which tends to make sense. So, I gave our client the name of a local lawyer we know and respect. Unfortunately, that attorney just happened to be representing the other side from the deal and so he was conflicted out. The client asked for a various referral, and, according to what we saw on the market, we just couldn’t come up with one we trusted to do additional than just go through the motions on our client’s behalf.
Far also several lawyers with small to no business law experience are branding themselves as “cannabis lawyers” nowadays basically because cannabis is really a “hot” legal area. And pretty couple of of those so-called cannabis lawyers meet what we take into consideration the minimum needs to supply competent business counsel inside the legal cannabis space. Listed here are some issues we feel anybody hiring a business lawyer for their marijuana operations needs to be hunting for:
Criminal vs. Corporate Point of view: There’s absolutely nothing stopping a criminal attorney from finding out a brand new set of abilities and transitioning to a predominantly corporate practice, but seasoned criminal lawyers have a tendency to have a very distinctive viewpoint than commercial lawyers with regards to corporate consumers, and especially when it comes to transactional work. In Washington and California, as an example, a number of attorneys with criminal backgrounds advised their clients not to pay state taxes simply because they didn’t want their clientele “to incriminate themselves” by admitting to cannabis sales on tax types. That advice may perhaps make sense when your objective is to preserve your client from confessing to federal crimes, but it led to a large quantity of marijuana businesses incurring huge interest and penalties along with a quantity sooner or later had to shut down simply because of it. We still see the impact of this poor suggestions when we get a new client who failed to spend its taxes inside a timely matter be precluded from securing a license either in its home state or in a further state. Plenty of what excellent business lawyers do is always to add transparency to cannabis corporations which can be now expected by most states. For a lot more on this, verify out Marijuana Business Self-Policing.
Boilerplate Bonanza: All attorneys have boilerplate templates. If a client wants a sales contract, I have numerous unique sales documents I use to begin the transaction. That mentioned, I then heavily customize these documents for each individual deal given that every single deal always demands various terms and circumstances. Too several instances I’ve noticed documents drafted by opposing counsel who did absolutely nothing more than “find and replace” for the parties’ names on a key document and after that ship it out for signature. People don’t hire significant corporate attorneys to get that type of contract, they employ Legal Zoom. And, for marijuana firms, that boilerplate contract is harmful because nine instances out of ten it is going to not accomplish the goals on the parties and it might set the parties up for imminent failure within the deal. People use real corporate lawyers mainly because they require a contractual relationship certain to them and to their scenario, which can be wildly complicated provided the constant adjustments to marijuana regulations. In the event you get the feeling that your lawyer is just filling out boilerplate forms, you might have an issue.
Scriveners: Similar to boilerplate contracts, customers should also be on guard for “scriveners.” They are attorneys who basically translate a client’s requests, bar none, into legalese. Even though that may seem like what a client desires, the client isn’t receiving the complete advantage of actual counsel in that interaction. Your attorney must be asking you questions and/or pushing back on you, letting you understand whether your deal points seem fair or unfair, no matter whether they comply with regulations, what the liability would be to you for those terms, and whether the requested terms are normal or our with the ordinary course of business. Most importantly, your lawyer must have accomplished a great number of deals like yours that he or she can let you know about the business and legal options you might have missed and about other comparable deals he or she has handled. Attorneys that practice inside the corporate space day in and day out possess a special point of view that could add worth in negotiating the deal. If your lawyer is just transcribing your every wish with no query or just acquiescing to all of your demands, you ought to be worried.
So, don’t just undergo the motions together with your lawyer and believe you’re protected within your marijuana dealings. Your lawyer ought to be taking an active corporate part as your protector and crafter of safeguards for the marijuana business. If they’re not, it is going to only be a matter of time just before it comes back to bite you as well as your business.
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Datum: 22.02.2019 - 14:02 Uhr
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