In the Press
May 3, 2024

DEA’s Marijuana Rescheduling Plan Has Law Firms High on Expanding Relationships With Cannabis Clients (


The likelihood of marijuana’s federal reclassification to Schedule III status has Big Law leaders eyeing opportunities to expand relationships with clients who have historically lacked the same tax benefits and bankruptcy protections as other sectors. But one challenge that will likely persist even under Schedule III classification of cannabis is the inability to obtain loans from traditional banks, forcing businesses to seek alternative financing from hesitant VCs where capital is expensive, said Jennifer Fisher, co-chair of the Cannabis practice at Goodwin. “I will be more excited when I see more deals, more fundraising and those sorts of things, because there’s so much potential for growth that we haven’t been able to realize because of no funding,” she said. The development of cannabis practice groups in Big Law firms, such as Goodwin, provides a view into how large firms expand an industry-focused practice. More in