Complying with cannabis business regulations presents a challenge for start-ups and smaller firms. Corporate and regulatory attorneys often help clients understand and comply with complex regulations. This is especially true in the cannabis industry.
In the United States, many industries lack well thought out regulatory policy. Some industries, like cannabis, suffer from over-regulation, overwhelming smaller businesses with the legal costs of compliance. Others suffer from under-regulation, leading to a lack of consumer and employee protection, as well as confusion and chaos. Under-regulation of our financial market was part of what led to the Great Recession in 2008.
Attorneys are usually the ones best positioned to critique bad business regulations and advocate for better policy. Well-resourced corporations often hire attorney-lobbyists to do just that. Most small or medium-sized cannabis businesses cannot afford to lobby, and so they instead join trade organizations or the like to advocate together as a group. But collective bargaining comes with its downsides. For example, one person’s business interests may diverge from their peers’. Plus, industries include countless different business types, and what’s good for the goose may not be good for the gander.
So the question becomes: How does one advocate for better cannabis business regulations?
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