We’ve written a lot recently about how cannabis companies are falling on tough economic times in this roiling economy. When times get lean, cannabis companies need to innovate and get more competitive with services and product offerings. This is in addition to consolidation, cost cutting, and going after third parties that owe you money.
One of the ways to get creative, and what I’m seeing more of lately in practice, are very strategic cannabis joint ventures. Joint ventures are always interesting to me–you never know what will come out of them, but collaboration and ingenuity usually drive the boat between parties. Cannabis joint ventures are no different. And whether it’s a brand collaboration over a new product line, expansion of certain business segments, or to bridge related markets (like CBD, health and wellness, spirits, etc.), cannabis joint venture candidates need to keep a few things in mind when they head to the bargaining table.
What is a joint venture?
A joint venture (or “JV”) occurs when two or more parties agree to join together for a commercial objective for a set period of time. A JV can take several forms but generally involves a joint venture agreement (and, most often,
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