The legal cannabis industry is expected to triple to $32 billion by 2022 and to more than $47 billion by 2028. With private equity, cosmetic, alcohol and non-alcohol beverage, health and wellness companies beginning to invest, the cannabis industry continues to grow and evolve at a rapid pace. This anticipated investment and growth, combined with an expanding list of states legalizing marijuana for medical and recreational use, has led to rapid changes to legislation and regulations that are important for companies to carefully consider.
McDermott’s multidisciplinary team of lawyers provides clients with regulatory, litigation, intellectual property, trade and tax services with respect to their investments and participation in the cannabis industry, all subject to the Firm’s obligations under federal and state laws and bar licensure rules.
Providing regulatory advice to companies making or considering strategic investments into the cannabis industry, including major food, beverage and agribusiness brands, healthcare and life sciences companies, private equity firms and family offices
Advising professional services firms and financial institutions on their provision of services to the cannabis industry
Helping a range of cannabis industry participants to navigate the legislative and regulatory complexities and risks associated with this relatively new market
We are committed to guiding our clients as a knowledgeable and innovative partner. We understand the complexities associated with evolving legislation and are dedicated to staying abreast of relevant industry and legal developments.
Representing a major agricultural products supplier in evaluating the implications of becoming a processor of industrial hemp products
Counseling breweries and other alcohol producers on the federal risks associated with producing or co-packing cannabis-infused beverages
Evaluated federal and state laws for an international beverage manufacturer in connection with their possible test marketing of an infused version of a popular beverage
Advising on the federal risks and input on NASDAQ listing to a company entering into the production and distribution for CBD water products
Service Providers and Suppliers
Advising a major accounting firm on federal regulatory issues related to their provision of accounting and related consulting services to cannabis industry participants, including pharmaceutical companies planning to import marijuana to US academic medical centers for research purposes
Achieved dismissal of a federal civil RICO claim against a financial institution that provides banking services to the regulated medical marijuana industry
Healthcare Providers, Distributors and Retailers
Represented a registered medical dispensary in connection with a discrete legal opinion around compliance with specific state cannabis laws
Advising hospitals with respect to permitting employed physicians and/or medical staff to prescribe medical cannabis for patients, including pediatric patients and the hospital’s ability to certify compliance with laws in various venues
Advised a senior living facility whether to amend its smoke-free policies in connection with cannabis consumption and implications under state and federal laws