One of the most persistent and common failures in the cannabis industry is using handshakes instead of written cannabis contracts. This is an issue I’ve written about for years (most recently here), and it doesn’t seem like there has been much of a willingness to change. A lot of companies would like to move into good contract practices, but written cannabis contracts can be too expensive or take too long to negotiate. It might be tempting to resort to AI to solve this problem, but there are a host of reasons why that’s not the case.
First off, precision is key in contract drafting. If a written cannabis contract is not precise, it could create an entirely new set of problems for the parties beyond what you’d expect in a handshake deal. While AI can be great for certain things, it would be very difficult for AI to generate a cannabis contract that precisely tackles all of the issues the parties want to negotiate. Sure, a competent individual might be able to work with the AI tool to hone in contract provisions, but that involves time and effort – the same thing an old school written cannabis contract requires.
Second,
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