The Cannabis Business with Author Charlie Alovisetti
Tune in to this episode to learn more about the Cannabis Business with Author Charlie Alovisetti today on NCIA’s Cannabis Industry Voice. Charlie is a partner at Vicente Sederberg and chair of the firm’s Corporate Department. He is recognized by Chambers & Partners as one of the top cannabis lawyers in the United States and is the co-author of The Cannabis Business: Understanding Law, Finance, and Governance in America’s Newest Industry (Routledge, 2020).
Prior to joining VS, Charlie worked as an associate in the New York offices of Latham & Watkins and Goodwin, where he represented public companies and private equity sponsors and their portfolio companies in a range of corporate transactions. For companies trying to raise money for their businesses, either startup or bigger expansions, with this federal confusion, we talk about how that impacts the process of raising money in a technically illegal industry. We dive into if there is risk in putting yourself out there that you’re in this industry trying to raise money.
So while we say “states are legalizing” but depending on how that law is written, it might be full-on adult-use like we enjoy in Colorado or California, or medical-only like Florida, and then there’s the unique case of Oklahoma. Maybe just decriminalizing for consumption but not allowing an actual industry, which is confusing. So we talk about how can we start to make sense when legalizing state by state is NOT a cookie-cutter process. As the largely illicit cannabis market transitions to the legal, regulated industry, the “canna-curious” and experienced industry participants alike are experiencing the harsh truth: Making a fortune in the legal cannabis industry is a challenge made even more difficult by a complex patchwork of state and federal laws.
The Cannabis Business clears the confusion around topics such as the distinction between hemp and cannabis and why it matters for consumers and regulators, why CBD isn’t completely legal in the U.S., why and how states differ in their licensing processes, and how to deal with structuring is impacted by state regulations. Written by attorneys from the nation’s leading cannabis law and policy firm, this comprehensive primer on all things cannabis law is a must-have for anyone seeking to understand the major practical legal issues facing the cannabis industry in the U.S.