Q3 Cannabis Industry Group Newsletter
Q3 Cannabis Industry Group Newsletter
Welcome to your quarterly rundown of the latest legal, policy, and market happenings in the cannabis and hemp industry.
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The Cresco and Columbia Care Fallout: How Credit Monitoring Could Have Prevented It
By Robert Hoban
The Cresco and Columbia Care Fallout: How Credit Monitoring Could Have Prevented Partnerships, collaborations, mergers, and acquisitions can pave the way for growth and innovation in the rapidly evolving landscape of the cannabis industry. However, as the recent Cresco and Columbia Care fallout demonstrated, even the most promising partnerships can crumble if not carefully managed. Without a certain level of transparency, and a way to know what potential misalignments might exist ahead, the two industry giants were forced to cancel their partnership after 16 months of “dating.”
Read the full article here.
Maximize Your Cannabusiness Success: Secure Trademark Rights
December 20, 2023 is the fifth anniversary of the 2018 Farm Bill, which legalized hemp in the United States. It is an important date for cannabusiness trademark owners that wish to maintain and enhance these critical assets and for those looking to establish new trademarks.
Read the full article here.
Comprehensive Reforms Must Start with Safe Banking
Failure to pass comprehensive federal cannabis reform will cause continued decline in the value of cannabis companies and fuel an already emboldened black market industry. There are currently 44 states with some form of cannabis legalization — and additional legalization on the horizon. The cannabis industry has grown to over a $40 billion dollar industry with significant tax dollars going to the states and the federal government. So why is cannabis reform taking so long and what is the result of failed legislation?
Read the full article here.
Q3 2023 in the Cannabis Industry Group:
Michigan Cannabis Regulatory Agency Proposes Administrative Rule Revisions
The Michigan Cannabis Regulatory Agency (“CRA”) recently filed a Request for Rulemaking to formally begin the process of updating Michigan’s Marihuana Rules (Mich Admin Code, R 420.1 to 420.1004). In an effort to promote transparency and communication with industry stakeholders, the CRA is accepting feedback on its proposed changes at this early stage in the rulemaking process.
A Stepping Stone for German Cannabis Law?
By: Michael A. Walsh
The German Ministry for Health has this month published a draft bill on the subject of cannabis legalization. The draft legislation is of course a diluted version of the original ambitious plans, which faced opposition at the European level.
Understanding Requirements of the Amended Illinois Equal Pay Act
By: Samantha Rothman
On May 17, 2023, the Illinois Legislature passed HB3129 which amends the Illinois Equal Pay Act. The amendments now make it unlawful for employers with 15 or more employees to fail to include a description of the benefits and pay scale for a position in any specific job posting.
Clark Hill Cannabis Industry Group Recognitions
We are honored to announce that Clark Hill has been selected as Cannabis Law Firm of the Year by Benzinga. In addition, Clark Hill has been nominated for the EMJAY award for Top Cannabis Law Firm at MJ Biz Con in Las Vegas in November. Cast your vote for Clark Hill by clicking here.
Co-Chair of the Cannabis Industry Group, Robert T. Hoban was recently named a Top 200 Global Cannabis Lawyer. In June, Chambers, a world-renowned organization that identifies and ranks the most outstanding law firms and lawyers based on peer and client reviews, recognized Clark Hill’s Cannabis practice nationwide. In September, Green Market Report named Robert T. Hoban as a Notable Leader in Cannabis.
4th Annual AllayPalooza
A big thanks to Kimberly Stuck and the team at Allay Consulting for hosting an epic 4th annual AllayPalooza in Denver this month.
Upcoming Events:
Benzinga Cannabis Capital Conference
On September 27th-28th, Co-Chairs of the Cannabis Industry Group, Robert T. Hoban and Sander C. Zagzebski, as well as Member, Adam J. Fromm, and Of Counsel, Charles E. Murphy will be speaking on cannabis capital in Chicago.
On October 10th-12th, Co-Chair of the Cannabis Industry Group, Robert T. Hoban will be speaking will be at the MJ Unpacked Venture Summit in Detroit, MI. He will be accompanied by other members of the Clark Hill Cannabis Industry Group.
On November 28th-December 1st, Clark Hill’s Cannabis Industry Group will be in attendance in Las Vegas for MJ Biz Con.
The Cutting Edge in Cannabis Law:
U.S. Senate Committee Approves Bipartisan Marijuana Banking Bill, Sending It To The Floor
HHS Recommends that Marijuana be Reclassified as Schedule III Controlled Substance
Senators Push to Pass Cannabis Banking Bill after Marijuana Rescheduling
This publication is intended for general informational purposes only and does not constitute legal advice or a solicitation to provide legal services. The information in this publication is not intended to create, and receipt of it does not constitute, a lawyer-client relationship. Readers should not act upon this information without seeking professional legal counsel. The views and opinions expressed herein represent those of the individual author only and are not necessarily the views of Clark Hill PLC.