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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Corporate Law

Date & Time
  • event Date

    Thursday, July 11, 2024

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.


  • Live Online


    On Demand

$297.00

This course is $0 with these passes:

CLE
ALL

This CLE course will address specific issues of which every corporate attorney should be knowledgeable when representing companies doing business in and with the cannabis industry. When a product, once illegal and scorned, becomes a significant market segment seemingly overnight, counsel cannot rely on instinct and must instead know each area of concern in an environment of laws that conflict from state to state and then clash with federal law as well.

Faculty

William Tolin Gay
Of Counsel
Wilson Elser, LLP

Mr. Gay has more than 30 years of experience as a business/corporate lawyer, culminating in his present transaction-focused practice, which includes corporate law, entity formation, mergers and acquisitions, corporate finance, licensing agreements and technology transfers. He has extensive experience working with domestic and foreign clients in securities, real estate, intellectual property and franchising. Among Mr. Gay's many domestic and international clients are Japanese entities that operate in the United States.

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Whitney Hodges
Partner
Sheppard Mullin Richter & Hampton LLP

Ms. Hodges is a partner in the Real Estate, Land Use and Natural Resources Practice Group in the firm's San Diego office. She is the leader of the firm’s Cannabis Industry Team and serves on the firm's Pro Bono, Recruiting and Diversity & Inclusion committees, as well as numerous industry specific teams.

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Description

The market for legal advice regarding cannabis products challenges even the most seasoned corporate lawyer. Saying "the rules have changed" is an understatement. This product was formerly illegal across the U.S.; legal cannabis is now approaching nationwide status. Legality and uniformity are two different things. Each state's form of legalization is somewhat different. Moreover, federal law remains unchanged and therefore contradicts state law.

Corporate counsel cannot in this uncertain environment rely upon instinct to advise clients. Simple decisions, such as "where to incorporate," are now driven by a new factor: the form of legalization. Further, as cannabis businesses cross state borders, questions arise such as whether they have to register to do business in other states, and how their line of business--which may be legal in one state and not another--can register without creating legal exposure.

Conversely, whether and how to do business with a cannabis company is also jurisdictionally driven. Counsel must determine whether a company in a state that has not legalized cannabis can accept funds from a cannabis company. Banks are grappling with whether to receive funds from cannabis businesses. Clients may worry that, if federal authorities press the legality issue, they may have to forfeit payments from these companies.

Listen as our panel of cannabis law experts provides the necessary details to represent clients inside and on the periphery of the cannabis industry, and identifies the issues of which corporate counsel must be conversant.

Outline

  1. Exploration of legality
    1. Federal vs. state
    2. State vs. state
  2. Formation considerations
    1. Choice of entity
    2. Choice of jurisdiction
  3. Operational issues
    1. Permitted activities
    2. Contracting
    3. Soliciting/receiving investments
    4. Banking and finance
    5. Tax issues
  4. Doing business with cannabis companies

Benefits

The panel will review these and other essential matters:

  • What is the scope of legalization and differences between various jurisdictions?
  • What considerations are there in forming a cannabis-related business?
  • What considerations are there in operating a cannabis-related business?
  • What considerations are there in doing business with a cannabis-related business?