Are Your Old Cannabis and CBD Contracts Enforceable? Maybe Not.
It’s a good time to review your business contracts and here’s one example of why from the legal team at Cozen O’Conner. A court ruled that a contract was unenforceable because it must apply the law in effect at the time the parties entered into the contracts at issue. The contract was entered into in 2014, prior to legalization of recreational use. Individuals and businesses involved in the cannabis or CBD industry are likely in the habit of making sure they are apprised
Global Cannabis Spending Grew 46% To $15B In 2019, Could Surpass $20B In 2020
The global cannabis industry grew 46% in 2019 fueled by emerging adult-use markets. It has the potential to grow another 38% in 2020 and projected to reach $48 billion in 2025. The worldwide legal cannabis industry posted its biggest year of growth in 2019, according to data firm BDSA. The Arcview Market Research/BDSA forecast model shows worldwide spending grew 46.1% to $14.8 billion in 2019 over the course of a six-year period from 2013 to 2019. During that time, legal spending grew at a 34.3%
Four Years After Legalization, California Has Had Unexpected and Often Disappointing Results
“I knew Prop 64 would pass, and that was fine with me,” recalls Rev. James K. McKnight, Pastor of the Congregationalist Church of Christian Fellowship in South Central Los Angeles, where low-level cannabis convictions are among the highest in the state. “The law promised social equity, social justice, second chances." But no one told him it was going to take years to take effect. Californians had high expectations when they overwhelmingly voted in 2016 to legalize adult-use cannabis with Proposition 64: the Control,
Tax Warrants Crack Down on Unlicensed Dispensaries in L.A. and San Bernardino Counties
California officials have started cracking down on unlicensed dispensaries with 12 tax warrants throughout Los Angeles and San Bernardino counties. The California Department of Tax and Fee Administration (CDTFA) announced Wednesday that over the past several weeks twelve illegal cannabis retailers in Los Angeles and San Bernardino counties were served tax warrants with the assistance of the California Highway Patrol (CHP). The CDTFA seized nearly a million dollars in illegal cannabis products that will be destroyed and approximately one hundred thousand dollars
Where Can You Advertise Marijuana in California?
Where can you advertise marijuana in California? Marketing legal recreational and medical marijuana products in California has its challenges. Read tips for marketing marijuana in California in this simple guide covering PPC, social media and legal advertising strategies. Let's start with the legal guidelines impacting just about every type of ad strategy: Radio, cable, print, and digital ads can only be displayed where at least 71.6% of the audience is expected to be over the age of 21 - determined by
What is the Difference Between State Issued Card and Medical Marijuana Recommendation in California?
With the cannabis industry continually evolving, it’s easy for its laws to get confusing. In 1996, California passed prop 215, the Compassionate Use Act, as the first state to legalize medical marijuana. With California’s 2016 approval of prop 64, the California Marijuana Legalization Initiative, cannabis is officially and legally recreational in the golden state. So, what do you do with your old doctor’s recommendations? And do you need the state issued medical marijuana card you keep hearing about? Both are
Five Successful Cannabis Entrepreneurs Shaping the Industry
Meet five of the many cannabis entrepreneurs taking the industry by storm. These weedprenuers are leveraging their business success to spread awareness and erase the stigma around legal cannabis. When an industry grows and becomes more successful, opportunities for entrepreneurs rise. The cannabis industry is no different. The legalization of recreational and medicinal cannabis has expanded dramatically over the last couple of years, and entrepreneurs are wasting no time taking advantage of these new opportunities. Here are just a few
Seven Common California Cannabis Licenses to Kickstart a Business
Learn the basics about seven common licenses for commercial cannabis in California. View a comprehensive list of CA cannabis licenses at a glance. November 2016 marked a historic vote in California approving the Adult Use of Marijuana Act (Proposition 64) legalizing the recreational use of marijuana. With it came the legalization of cultivation, production, distribution, transportation and commercial sales of marijuana. Although it is now legal in California, there are a lot of hurdles to jump through before you can legally participate in the
Is a Shortage of Marijuana Possible in California?
Many states with legalized recreational use of marijuana have experienced a shortage of compliant cannabis. Is weed shortage in California next? We are in a revolutionary chapter of the history of cannabis known as the “Green Rush.” A milestone moment occurred in late 2016 when Prop 64 passed in California to allow the sale of recreational cannabis use through a regulated market. Through the regulated market, the industry straightened its tie in many ways, including having its cannabis taxed and tested
California’s Most Cannabis Friendly Cities
Take a trip to any of these California cannabis friendly cities for a unique experience whether you’re new to the marijuana scene or a seasoned vet. With cannabis recently legalized through Prop 64, it could feel as though the possibilities of enjoying a high are endless. Although Cannabis tourism is barely beginning, bud & breakfasts, cannabis resorts, cannabis festivals, and leisurely cannabis activities are popping up in a number of cities. Since each city enforces their own laws, you’ll need to