Cannalaw Summit 2023

As the legal cannabis industry continues to diversify and expand in step with public support for federal legalization, so do the opportunities, obligations, and complex legal challenges that law firms and their clients face.

Despite ongoing challenges around product legality and liability, banking, interstate commerce, ESG and health, and safety risks, and a general lack of movement on federalization—legislative bodies, advocacy groups, and individual states continue to push legalization efforts forward, opening new routes to access and markets in the process.

The 3rd Annual Cannalaw Summit, presented by Inside Practice and the Cannalaw Network, will once again bring together a broad set of perspectives from boutiques to big law, in-house counsel, and subject matter experts from across the international cannabis supply chain.

Together, we will explore an ever-evolving risk management and mitigation landscape in an environment of perpetually changing laws and policies. The 2023 Summit will once again provide critical insight into:

Current and future laws and regulations within an uncertain risk and liability landscape
Risk mitigation strategies for ancillary cannabis businesses: Exploring an enormous opportunity for legal counsel and risk mitigation in navigating the complex and intertwined ancillary cannabis business landscape
The symbiotic relationship between hemp and cannabis with a particular focus on evolving hemp policy, Farm Bill implications, and changes to cannabinoid regulation
Risk profile and renewed interest in on-site consumption licensing
Recent IP litigation defining the future of cannabis IP law – and strategies for protecting cannabis-related intellectual property
Interstate commerce and why it’s so critical in the broader supply-side and regulatory context
Distressed assets and restructuring of troubled cannabis businesses
The legal state of cannabis banking and laws impacting cannabis lending
Regulated cannabis markets and gain an understanding of their legalization processes, licensing, and regulatory approach
Integrating the cannabis practice: Core considerations and opportunities as the legal cannabis marketplace continues to evolve
Private equity perspectives for 2023: What are investors thinking about?
The impact of Environmental, Social, and Governance on cannabis businesses and their advisors

Join your peers online May 3rd - 4th for the Cannalaw Summit

Early Bird Registration is Open:

Confirm your place before March 31st using the code CLSSEB23 and save 20% on your registration.

PARTNER

SUPPORTING PARTNERS

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Communities of color have long been paying the price for America’s failed War on Drugs, which was fueled, in large part, by cannabis prohibition. As a majority of states across the country have legalized adult-use and/or medical cannabis and federal legalization is inevitable, the question of what social equity is or should be has never been more important. In this Keynote discussion, we will discuss the history of cannabis prohibition, how the criminalization of cannabis has (intentionally and unintentionally) perpetuated systemic racism and inequality in the United States over the past century, how state legal jurisdictions have sought to remedy some of the harms of cannabis prohibition through social-equity-based policies, and how lessons learned from cannabis prohibition can be used to improve upon social-equity-based policymaking as we move towards federal legalization.

Legislation, Politics and Values: How Emerging Programs Are Faring in the US South
What’s driving incremental change among southern US states?
Medicinal debate: Perceptions around cannabis as viable medicine
Why the US South is something of a “final frontier” for legalization/decriminalization
Is there a critical mass? Balancing political pressures and cautious public tolerance
Challenging blanket assumptions about the South: Understanding the mentality and political nuance in the southern states and why it’s different than the rest of the country

Over the past year, interstate commerce has catapulted up the list of topics drawing the focus of cannabis legal experts and industry insiders. But are we actually any closer to states starting to engage in cross-border sales? The conventional wisdom has long been that the current framework of states’ closed-circuit, intrastate regulatory schemes would continue under full federal legalization.

But recent actions in statehouses from California to New Jersey, as well as recent federal court decisions and lawsuits, suggest that interstate cannabis commerce could be here sooner than expected. If so, how will this commerce happen? How will it be regulated? How will product move between states? And, perhaps most importantly… how will the federal government respond? This discussion will focus primarily on:

Dormant Commerce Clause Litigation (including recent challenge to Oregon export ban)
Supply challenges
Approaches to regulation (a focus on the how)
Social equity and small business considerations
Discussion of the SHIP Act
Paraphernalia no longer deemed “contraband”

As we head into another year of political and legislative uncertainty, the landscape for investing remains hazy.

Market headwinds — declining prices, competition from the legacy market, diminishing cash balances — continue to threaten the viability of operators and trickle down to vendors and service providers. But where there are challenges, there are opportunities. During this session, panelists will discuss investment strategies, the importance of advisory representation, and identifying and vetting key targets.

Top 10 Things to Know When Starting a Cannabis Business in the US

Attorneys from K&L Gates will present a 20-minute count-down of the top 10 things that individuals need to know when starting a cannabis business in the US.

Focus will include the key differentiators that make launching a US cannabis business more difficult and riskier than in other countries.
Topics include current issues around payments, policy, litigation, and the regulatory environment.
Launching a successful cannabis business in the US is not just about profit and loss statements, but also understanding the patch work of federal and state laws related to payments, policy, banking, and enforcement.

Judith Rinearson, Partner, K&L Gates LLP

Brenden Chainey, Associate, K&L Gates LLP

The previous two Farm Bills established the first federal frameworks creating the hemp industry we know today, starting with agricultural research pilot programs and growing to full commercial cultivation. We saw a boom, bust, and now pivot in the supply chain to meet market demands for hemp and hemp derivatives. With 2023 Farm Bill negotiations underway, what does the future hold for hemp regulation? What will the legal hemp marketplace look like?

Join us to discuss the maturing hemp landscape, including ongoing federal policy negotiations, potential changes to the definition of hemp, and market trends leading to new regulation of cannabinoids, isomers, and other minor cannabinoids, including synthetic cannabinoids.

Year in Review: Changing Market Dynamics
Is the Market Imploding? Assessing regulatory hurdles, competition from the illicit market and access to banking services
Biden Administration/Federal government’s approach to cannabis legalization
New legislation - and Inaction
Compare/contrast policy reform cannabis vs psychedelics, including approaches to ethical business models, social equity, benefit honoring
California Consolidation: Should we be afraid?
Is taxation killing business?
Is Investment drying up?
Update on International Markets

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Bob Hoban is widely credited with developing the contours of what it means to truly be a “cannabis attorney.” Bob started advising cannabis industry clients in 2008, far before Colorado and Washington made history by becoming the first jurisdictions to legalize adult-use consumption in 2014. Bob formed the law firm Hoban & Feola with his then partner, David Feola, in 2008. Since then, Bob has carefully curated and developed his professional network to represent the best possible providers servicing the cannabis industry, including the attorneys that comprised the Hoban & Feola legal team.

In 2016, David and Bob parted ways and Hoban & Feola became the Hoban Law Group (“HLG”). By 2020, HLG had grown it’s ranks to include fifty-five full-time cannabis attorneys and was recognized globally as a leading cannabis industry legal brand. By then, Bob’s daily life and responsibilities had transitioned from being a practicing attorney to being a business owner; and he no longer found joy in the work he was doing. As such, he sought an exit from his role and opened the door to acquisition discussions, eventually selecting international firm Clark Hill as HLG’s new home.

In this presentation, Bob will revisit the personal, human, reasons, along with the professional reasons, that led him to seek a new home for his practice and employees. He will share the challenges he faced individually and that HLG faced generally; and will share strategies for others to follow to navigate those challenges. Finally, Bob will share his post-Clark Hill integration thoughts on leading a cannabis industry practice on an international, “BigLaw,” platform.

Debt and equity investment in the cannabis industry was down significantly in 2022, SAFE Banking did not pass in the lame duck session of Congress, while falling prices and federal tax obligations limit cash flow. These factors and others are causing a number of cannabis business to seek restructuring and work outs from investors and creditors, but existing state cannabis laws offer limited options. This panel will discuss how lenders, equity investors and cannabis businesses are restructuring troubled cannabis businesses and will discuss the prospects for legislative solutions in the coming year.

Dominance of state level approach(US) vs. a Federal approach in Canada
Differing political dynamics in the two countries: The strength of anti-cannabis forces on the religious Right and to a lesser extent among US law enforcement vs. the relative absence of these players in Canada
Gradualism and regionalism in the US vs. a big bang in Canada
Specific differences in the approaches relating to medical marijuana and recreational use
Differences in approaches to the banking system's interaction with cannabis
Development of the industries in US and Canada, emphasizing the different ways they have developed as organizations (e.g. vertical and horizonal integration, size, relative degree of diffusion of retail in the two countries)
Differences in financing the cannabis organization between the two models
Merger and Acquisition transactions in the two countries (including cross-border deals)
Reflections on Different Approaches--either permissible or impermissible in US vs. permissible but with many more "nanny state" restrictions in Canada

A maturing cannabis market and increased consumer demand have spurred a renewed interest in on-site consumption licensing. Recent progress has been seen in cities such as Ann Arbor, Las Vegas, Palm Springs, and West Hollywood, which are looking to provide a safe place for people to consume cannabis and reduce public consumption. In addition to newly eased restrictions in California and Colorado, regulations around cannabis consumption lounges are progressing in Illinois, Michigan, New Jersey, New Mexico, New York, Nevada, and Pennsylvania.

However, at this stage in the development of the regulations and civil tort liability around on-site cannabis consumption, much remains uncertain. Because the risk profile of consumption lounges is still not well understood, regulators and local officials have proceeded cautiously. Important questions are still unanswered in most jurisdictions that are considering whether to allow on-site cannabis consumption. As we wait for the emergence of recognized standards, operators must closely follow state and local regulations and consider voluntarily adopting other measures that demonstrate advocacy for reasonable use and protection of customers. Efforts to minimize liability and risk should be a key element of business planning for those seeking to operate in this sector of the cannabis industry. In this discussion, we will explore:

Licensing and nomenclature disparities between states concerning on-site consumption
An uncertain risk and liability landscape: Risk assessment and mitigation across jurisdictions
Liquor liability as a model: the similarities and differences between liquor liability and the developing law around cannabis consumption
Understanding the limitations around available liability insurance, developing recognized service standards and implementing reliable service criteria and training for employees
Need for the development of recognized standards and procedures to avoid litigation
Considerations around a modified version of responsible beverage service training for the cannabis industry
Important questions raised by state regulators looking at how to license on-site consumption

In this program, Aaron Pelley (Washington) will lead a panel of the top Cannabis Attorneys from four corners of the United States (California, Florida, New York and Oregon). They will examine the state of the law in Cannabis and what is occurring in licensing requirements and regulations. Each state has approached legalization differently, we can compare and contrast the restrictions, legalization process and the procedure for obtaining a license. In addition, the presenters will cover recent developments in their respective legislatures on cannabis use, advertising, and licensing. Key topics include:

Medical vs Recreational
Applications for Licenses: Open or Closed
Types of Licensing (Retail, Delivery, Processing and Production)
Residential Requirements and Criminal History
Social Equity Programs
Common Pitfalls in Acquiring Licenses
Restrictions (number of licenses one can hold, crossover between producers and retailers, is vertical integration allowed)
Laws on advertising, licensing brands, white labeling
Licensing issues in limited license markets (Florida and NY )

There is an enormous opportunity for legal counsel and risk mitigation in navigating the complex and intertwined ancillary cannabis business landscape. The list of businesses that touch or interact with the cannabis industry is growing, and the potential is nearly endless. While some companies are wary of interacting with licensed marijuana businesses for fear of unanticipated consequences (and may even suspect that they already have a cannabis customer), many businesses are safely and successfully serving the cannabis industry with eyes wide open.

All businesses - from insurance to financial services, to agricultural supplies, construction, farming and processing equipment, to trucking and logistics, computer software and app design, to packaging, advertising and marketing, to security services and products, and even businesses advancing completely new innovations such as intoxication detecting technology, genetics and plant patents, and more - which interact or have the potential to interact with this booming industry are wise to understand the risks and benefits presented by working with licensed cannabis businesses under our current patchwork of state regulations and in light of the continuing illegal federal status of marijuana.

This discussion will focus on the enormous opportunity for legal counsel and risk mitigation in navigating the complex and intertwined ancillary cannabis business landscape – with particular focus on where clients need guidance, such as:

Avoiding being considered a true party of interest and/or financier of a licensed marijuana business (and, if you are, what are the requirements, consequences, requirements, prohibitions, etc.);
Bankruptcy: When does working with a cannabis company render bankruptcy protections unavailable to an ancillary company;
Seizure & Forfeiture: Protecting against secured assets being subject to forfeiture for a licensed marijuana business partner violating state or federal law;
Avoiding illegality of cannabis as a defense to contract enforcement. (See, recent Medmen case);
BSA and SARs - When you have to report that you’re dealing with a licensed marijuana company to federal financial authorities

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CANNALAW SUMMIT

Join your peers at the Cannalaw Summit

As the legal cannabis industry continues to diversify and expand in step with public support for federal legalization, so do the opportunities, obligations, and complex legal challenges that law firms and their clients face.

PARTNER

SUPPORTING PARTNERS

Jason Horst

Fatima V. Afia, Esq.,

Shaleen Title

Jason Ortiz

Scheril Murray-Powell, esq.

Robert T. Hoban

Whitney Hodges

Nicole Howell

Courtney N. Moran, LL.M.

Judith Rinearson

Brenden Chainey

Sarah Dalton

Zachary Kobrin

Al Foreman

Shyra L. Costas

Luke S. Zimmerman Esq

Hannah Stitt

Shabnam Malek

Dale C Hunt

Adam Smith

Victoria Litman

Lisa L. Pittman, Esq

Olia Wall

Stanley S. Jutkowitz

Gail Rand, CPA

Peter Su

David Traylor

Arren Goldman

Heidi Urness

Aaron Pelley

Sally Kent Peebles, Esq.

Shahiedah Shabazz

Simon Malinowski

Ted Bernhard

Ian Stewart

Marc Ross

Lucas Williams

Alex Hearding

Tanya M. Boyce

James I. Kaplan

Theodore Sullivan

Peter Simeon

Lewis Retik

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Chairperson’s Opening Remarks

Cannabis Prohibition: The Legacy of the War on Drugs and the Future of Social Equity Policymaking

Below the Mason Dixon Line: Changing Dynamics in Southern Markets

Interstate Commerce: How and When Will it Happen?

Current Trends in Cannabis Intellectual Property and Recent IP Litigation

Private Equity Perspectives:

A Look Into Investment Strategies for 2023 and Beyond

Hemp Landscape: Farm Bill Negotiations, Definitions and the Future of Hemp-derived Cannabinoids

Cannalaw Summit Virtual Networking

Chairpersons Closing Remarks

State of the Union: Drug Policy Reform and The Next Chapter

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Chairperson’s Opening Remarks

From Boutique to BigLaw: My Experience Combining My Boutique Law Firm into an International Platform

Restructuring a Troubled Cannabis Business

EHS in the Cannabis Industry: Commencing an ESG Screen on One’s Operations to Help Mitigate Environmental, Health and Safety Risks

Cannabis On-Site Consumption: A Unique Risk Management Challenge

Cannabis Regulations: An Overview of the State Regulations and Requirements for Licensing

Risk Mitigation Strategies for Ancillary Cannabis Businesses

Chairpersons Closing Remarks

Cannalaw Summit Virtual Networking

Early Bird Registration is Open:

Confirm your place before March 31st using the code CLSSEB23 and save 20% on your registration.

Individual

Pass

$495

($396 through 03/31)

Group

Pass

$2,225

($1,780 through 03/31)