Benjamin Franklin is quoted as saying that “[b]y failing to prepare, you are preparing to fail.” This quote rings very true in the commercial cannabis industry. Solid preparation in the form of an individualized business structure and governance model is essential to the success of any commercial cannabis business.
An appropriate structure and system of governance prepares a cannabis business with the tools necessary to conquer many of the challenges it will face during startup, growth, and expansion. Determining the structure and governance system that is appropriate for a particular business requires knowledge of the goals and aspirations of the individual cannabis business. Knowing the goals and aspirations of a business requires taking the time to learn about circumstances unique to that business.
At Green Legal, we take the time to get to know the businesses we assist with formation and structuring. This, along with an extensive knowledge of the cannabis industry, helps us construct a business structure and governance model that fits the individual needs of each cannabis business Green Legal represents. We pay close attention to the details of each client’s business idea, “deal”, or partnership, and structure their business(es) to fit the individual challenges they face.
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