McAllister Garfield offers business and corporate law services for the cannabis industry and ancillary business from start-up through exit. The Firm’s attorneys keep abreast of not just cannabis legislation, but other legislation and court opinions that affect how business operates.
Business Formation and Structure
At the start-up phase, a business must consider a number of issues, including choice of entity, governance, capital structure. This is particularly the case in the cannabis industry, where restrictive ownership, tax, and financing rules present unique problems and opportunities. What might be routine for most business might be restricted or even prohibited to cannabis businesses and even to ancillary businesses.
The Firm’s business formation services include:
- Entity selection
- Corporate governance documents—operating agreements, articles of incorporation and bylaws, shareholder agreements, and partnership agreements, etc.
- Financing and capital contribution documents—loan agreements, convertible notes, options, warrants, and private placement memorandums, etc.
- Employment Agreements
- Non-Compete/Non-Disclosure Agreements
Corporate and Contract Services
Once a business is up and running, keeping a sound legal structure and understandable contracts is key. We negotiate and draft almost all kinds of corporate and commercial agreements. The Firm’s general corporate and contract services include:
- Corporate governance and business operations
- Commercial contracts and corporate transactions
- Mergers and acquisitions
- Asset sales and purchases
- Equipment leasing
- General counsel advice—board meetings and minutes, mediating corporate disputes, conflicts of interest
- Later-stage financing
While cannabis is a new industry, business owners should consider an exit strategy as soon as possible, even at the start-up stage. Exit, whether through a sale, a merger, a buyout, or otherwise, should always be an element of business strategy. We partner with accountants, financial planners, estate attorneys, and other professionals to ensure that business owners keep the fruits of their labor for themselves and their families.