CANNABIS LAW
(LAWA-4050) - 2 UNITS

While cannabis remains a controlled substance under federal law, California recently joined a growing number of states that have legalized cannabis for both medial and recreational purposes, leading to explosive growth of cannabis-related businesses. As the use, sale and production of cannabis grows, there is increasing demand for lawyers who are skilled in the business law aspects of the cannabis industry. Using California as its state-level focus, this course will provide students with a solid understanding of the current framework of laws and regulations (both at the federal and state level) that lawyers must be familiar with in representing business interests operating in the cannabis industry.

The course will begin with a short history of the regulation of cannabis and the evolution of medical marijuana laws as well the impact of these laws on the current framework for regulating the cannabis industry. The course will then examine the key legal issues that a lawyer should consider when representing cannabis-related businesses operating in California. Topics are expected to include, but are not limited to: federal and state conflicts in regulating the cannabis industry; substantive criminal laws regarding cannabis; banking concerns and lending to cannabis-related businesses; professional responsibility issues; the role of private equity and venture capital in providing financing to cannabis-related, start-up businesses; intellectual property issues; real estate acquisition and landlord-tenant issues that arise for cannabis-related businesses operating under commercial leases.

Prerequisites:
Business Associations (LAWA-4003)