The legal cannabis industry is expanding rapidly worldwide. In North America alone, the industry is expected to grow from $9.2 billion in sales in 2017 to over $47 billion within ten years.
In the United States, cannabis is legal under state law for medical use in 33 states plus the District of Columbia, and for general adult recreational use in 11 states and the District of Columbia. But, at present, cannabis remains illegal under federal law. The tension, indeed the outright conflict, between state and federal law regarding marijuana creates both opportunities and risks for current and prospective operators and investors in the cannabis industry.
The Goodwin team has deep knowledge of the cannabis industry and understands the business and legal nuances that make it unique. Comprised of a cross-disciplinary group of lawyers, Goodwin’s Cannabis team covers the full spectrum of legal services needed by participants in the industry, including finding and developing investment opportunities, obtaining funding, structuring of transactions, M&A, protection of intellectual property, privacy and cybersecurity, handling of government and regulatory investigations, advising clients regarding risks arising under federal law, and vigorous representation in all forms of litigation, all services subject to the firm’s obligations under federal law. As trusted advisors to our clients, we understand that as the legal environment evolves and the cannabis industry grows, the industry’s business needs will change. It is our priority to understand our clients’ business goals and to provide them with best-in-class service as this industry continues to grow and evolve.