David Olsky
The cannabis industry has grown dramatically with each new state that legalizes its sale.
Still, the industry continues to have the reputation of being a no-holds-barred Wild West.
As a result, partnership disputes, bad business practices and “off-the-books” backroom dealings abound, particularly in contrast to other, more mature, established industries.
Here are three key pieces of advice on how to protect yourself from bad actors, acrimonious partnership disputes and costly legal disputes:
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1. Protect your licensing: Each state typically requires that every marijuana business be licensed and the company owners undergo a background check.
It is critically important that your name is on the license if you are a partner or owner. For one thing, it is usually the law.
For another, having a name on the license is vital in preventing later ownership disputes about the existence and amount of your ownership.
Unfortunately, I often
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