Laws write history—just look at the dispensary down the street. As more states throughout the U.S. pass legislation allowing the consumption of cannabis for medical and recreational purposes, we're witnessing the birth of a multibillion-dollar industry in real time. Cannabis legalization is changing people's lives, creating momentous business opportunities, and leaving a mark on society and culture.
The economic impact of legalization is already apparent. The cannabis industry is currently worth over $20 billion and is projected to double in value by 2020. Even those once wary of the industry have taken notice. Last year, just 30% of cannabis companies had bank accounts; in 2017, that percentage has flipped: nearly 70% of plant-touching businesses receive banking services and the majority bank with traditional financial institutions.
Cannabis legalization is more than an economic boon. These developments coincide with an inflection point in the U.S. health care system. While our nation faces an epidemic of opioid-related deaths, medical cannabis presents a safer, nonfatal pain management alternative.
With profound business opportunity and public health benefits, however, come profound legal challenges. That’s why members of the cannabis industry consider Offit Kurman their trusted partner. We have developed one of the most highly regarded cannabis law practices in the U.S., capable of delivering comprehensive legal services and representation to businesses involved in the production, cultivation, research, marketing, and sale of cannabis and cannabis-related products.
Offit Kurman's Cannabis Law Practice Group has been named one of the top 10 cannabis law practices in the country (Cannabis Business Executive, 2017), and is the leading choice for legal representation of cannabis business owners in the Mid-Atlantic region. The attorneys in our award-winning practice group have the knowledge and experience necessary to help clients meet virtually any obstacle in this dynamic environment. Our track record includes success in regulatory compliance, health care, tax, intellectual property, litigation, employment, real estate/zoning, and many other areas of law.
ABOUT OFFIT KURMAN
Offit Kurman is one of the fastest-growing, full-service law firms in the Mid-Atlantic region. With over 140 attorneys offering a comprehensive range of services in virtually every legal category, the firm is well positioned to meet the needs of dynamic businesses and the people who own and operate them. Our eleven offices serve individual and corporate clients in the Virginia, Washington, DC, Maryland, Delaware, Pennsylvania, New Jersey, and New York City regions. At Offit Kurman, we are our clients’ most trusted legal advisors, professionals who help maximize and protect business value and personal wealth. In every interaction, we consistently maintain our clients’ confidence by remaining focused on furthering their objectives and achieving their goals in an efficient manner. Trust, knowledge, confidence—in a partner, that’s perfect.
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