
HEMP & CANNABINOIDS
The December 2018 Farm Bill marked a new era for federally legal hemp and hemp-derived products, including CBD. However, navigating this rapidly evolving landscape requires careful attention to complex regulations. Notably, the U.S. Drug Enforcement Agency (DEA) proposed an interim final rule on August 21, 2020, stating that any material with more than 0.3% THC on a dry-weight basis remains classified as a Schedule I substance—a critical area of concern for the hemp industry.
As the regulatory environment continues to change, start-ups, existing business owners, and investors involved in cannabis cultivation, manufacturing, transportation, dispensaries, and regulatory compliance face significant challenges. The Law Office of Kimberly R. Simms is dedicated to helping these key players navigate these complexities and plan effectively for success. In such a dynamic sector, failing to stay ahead of regulatory changes can lead to missed opportunities and setbacks.
Comprehensive Legal Strategies for Complex Landscapes
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Advise on business structure (LLC, Corp, etc.)
· Strategic planning for growth and acquisitions
· Founder and shareholder agreements
· Intellectual Property Protection
· Financing and Capital Structure
· Help create a business plan for successful future
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Advise on board structure and bylaws
· Develop governance polices and procedures
· Ensure compliance with corporate law
· Assist and advise on Shareholder and board meetings
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Draft and negotiate commercial contracts
· Supply Chain Agreements
· Management Services Agreements
· Licensing Agreements
· Confidentiality and non-disclosure Agreements
· Consulting Agreements
· White Labeling Agreements
· Joint Venture Agreements
· Influencer and brand ambassador Agreements
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Ensure compliance with local laws
· Ensure compliance with state regulations
· Assist with responses to Notices to Comply
· Assist developing ongoing compliance programs to mitigate risks
· General regulatory and compliance counsel
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Assist in evaluating locations based on zoning and regulations
· Draft competitive local licensing applications
· Assist in obtaining and renewal of local and state licenses
· Assist with changes to licensure including ownership changes, change of location, update to premises diagram
· Assist with ongoing communications with licensing authorities
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Conduct due diligence for mergers, acquisitions and investments
· Evaluate regulatory, legal and financial risks
· Review compliance history and potential liabilities for investment
· Advise on proper deal structure
· Advise non cannabis businesses about entering the cannabis and hemp industry
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Draft and negotiate lease agreements
· Advise on real estate zoning and land use laws for business use
· Assist in securing and maintaining local licenses
· Draft and negotiate real estate purchase agreements
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Provide legal opinion letters on licensing, compliance and business structure
· Clarify the legality of specific cannabis operations or transactions
· Advise on risks associated with cannabis contracts and agreements
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Draft partnership dissolution agreements
· Handle the legal closure of businesses, ensuring state and local compliance
· Assist with the distribution of assets and settlement of debts
· Advise on the filing of required documents with regulatory authorities for business closure
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Provide ongoing legal advise and on business operations and compliance
· Assist with corporate governance – resolutions, board meetings and minutes
Review and negotiate contracts
· Advise on risk management strategies
· Initial collections and demand letters
· Assist with routine license issues
· Assist with regulatory compliance
· Project Management
