If you are interested in going into the cannabis industry, one of the most important steps you must take is choosing the right attorney to help you get your business licensed and operational. Your lawyer can help you navigate the process and protect you from potential legal obstacles.
The following are 11 reasons why hiring a competent and well-connected lawyer should be the very FIRST thing you should do:
- A lawyer has a fiduciary responsibility to not rip you off; and, in an industry loaded with “consultants” who have no duty and no professional license to lose, this fiduciary responsibility cannot be overstated.
- There are serious legal pitfalls in this highly regulated industry that you need to avoid.
- A good understanding and proper use of legal research tools will help you use the regulation as an edge over your competition.
- A good lawyer will have solid contacts with other excellent service professionals.
- You need help negotiating agreements (yes…it’s true).
- You need help reviewing contracts (again, it’s true…plus, as a business owner, there’s plenty else for you to do).
- You should NOT write your own contracts unless you already know the caselaw of Implied Warranties of Merchantability and Fitness for Purpose in your jurisdiction.
- You need escrow for transactions (you absolutely need this).
- You need business – maybe even crop – insurance and, unless you already read the “fine print” in your insurance policies, you need a lawyer to do that.
- Every business must have cash, access to financial services or both. A good lawyer will have raised money before and will know how private equity works in ‘real-life’ situations where mistakes cannot be afforded.
- Re-visit #1 again
From zoning laws and permits to sales and investments, Virginia Cannabis Lawyers understands the challenges cannabis companies face when entering the industry. With more than two decades of legal experience, Attorney Tyson Daniel has provided legal advice to retailers, wholesalers, processers, farmers, landowners, and brokers alike.
If you are interested in hiring a cannabis business lawyer in Virgina, contact us today at (540) 401-5564 and schedule a consultation. Let our firm handle all the legal matters while you focus on growing your business.