Marijuana is the latest economic boom, with revenues spiking, with companies at every stage of the supply chain eager to cash in on the cannabis cash flow. The drug is now legal for recreational use in 23 states plus the District of Columbia and 23 states now allow medicinal marijuana. Los Angeles marijuana lawyers have heard some experts estimate the industry could balloon to $80 billion over the next decade.
The interest of companies adjacent to the cannabis industry especially is expected to soar – everything from packaging and advertising to purveyors of point-of-sale technology that allows marijuana producers to keep accurate track of their products from seed-to-sale.
Supply chain companies are increasingly willing to form ties with the cannabis industry, which just 10 years ago was illegal in most states. The fact that it’s still illegal under the U.S. Controlled Substances Act means there is still some risk for those associated. That’s why it’s best to check in with an experienced Los Angeles cannabis business lawyer before signing any contracts to ensure your operations meet California cannabis regulatory compliance rules, thereby reducing your risk of both state and federal scrutiny. Continue reading