LOS ANGELES, Calif., October 24, 2019. Buchalter recently announced the formation of a new industry group exclusively focused on the evolving cannabis and hemp industries. Buchalter’s cannabis and hemp legal practice dates back to 2013 when a client, a court appointed receiver, was tasked with operating a medical cannabis collective. Since then, Buchalter’s cannabis and hemp legal practice has expanded to over 100 clients in the industry utilizing over twenty-five lawyers across each of its practice groups.
The attorneys in the Cannabis & Hemp Industry Law Group have substantial experience representing every aspect of the industry, including investment funds, multi-state operators, cultivators, manufacturers, distributors, retailers, intellectual property licensors, equipment lessors, factors, receivers, lenders, and packaging companies. Clients are specifically advised in connection with:
- Corporate formation and structure, including corporate governance, shareholder/operating agreements
- Mergers and acquisitions of businesses
- Distressed assets, including receiverships and assignments for the benefit of creditors
- Intellectual property licensing and protection, including copyrights, trademarks, patents, and trade secrets
- Finance, including capital raises, secured loans and factoring, banking and Bank Secrecy Act compliance
- Labor and employment, including compliance and litigation
- Real Estate, including land use, development, CEQA, leasing, and lending
- Product labeling and advertising, including Unfair Competition and Proposition 65 lawsuits
- Tax, including IRC Section 280e compliance
Highlights of our successes include:
- Securing the first ever receiver sale of a cannabis license. At auction, a licensed California cannabis business, The Guild San Jose’s, assets were sold to San Diego based retail chain Urbn Leaf for $8.25M
- Advising the formation and operations of the first factor in the cannabis industry
Oren Bitan, Shareholder in the Los Angeles office, will Co-Chair the group along with Shareholder and Orange County Office Managing Partner, Martin P. Florman. “With Buchalter representing more than 100 clients in this rapidly expanding industry, the formation of the Cannabis & Hemp Industry Law Group was a natural outcome after six years of practice as we continue to see significant increased demand from our clients for these services,” said Bitan.
Attorneys in the Cannabis & Hemp Industry Law Group are widely respected by clients, peers and market observers, and are recipients of numerous awards and honors for their practices. Many have presented at industry related conferences, and authored articles in major publications including Los Angeles Lawyer.
“We anticipate significant growth of this industry over the next decade while we continue to offer clients unparalleled expertise in distressed assets, banking and Bank Secrecy Act, and real estate related concerns in this rapidly evolving industry,” said Florman.
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