Marijuana Business Law in California
In California, the sale, transportation, use or possession of marijuana for recreational purposes is currently illegal.
If Proposition 64 is passed it will be a great opportunity for cannabis/marijuana entrepreneurs to start a business.
Odgers Law Group’s experienced business law attorneys will be on the forefront of helping business owners in the marijuana/cannabis industry navigate the new regulations. We look to become California’s Best Marijuana Business Law Attorneys.
It can safely be assumed that marijuana business facilities in California will be strictly regulated. In order to not violate any state or federal laws, adult California residents must closely follow the narrow protection provided by Proposition 64.
How to start a Recreational Marijuana Business in California
Starting a marijuana/cannabis business in California will be no different than starting any other highly regulated business. There will be a state body who will likely require licensing and registration prior to conducting business. Similar to starting any other business it is important to shield yourself from personal liability. Here is a summary of steps to consider:
- Wait for election night to see if proposition 64 is passed
- If passed, wait for the law to be enacted prior to starting any marijuana business in California.
- Create a business plan and raise capital
- Decide whether to start an LLC, corporation, partnership, or as a sole proprietor
- Consult with a California Marijuana business law attorney to verify that you are in compliance with all local and federal laws
- Verify that your business is compliant with local zoning ordinances and obtain a local business license
- If you are doing business under a name different than your own then register a fictitious business name
- Protect any and all intellectual property and trade secrets
Marijuana-Related Businesses possibilities in California if Proposition 64 is passed
Here is a list of some business ideas that were successful in states where recreational marijuana was previously passed. It is a good idea to study what has been successful in previous markets. You can learn from previous business owners successes and mistakes.
- Biotech companies producing prescriptions derived from cannabis and cannabidiol
- Marijuana dispensaries
- Marijuana nurseries
- Investment in savvy marijuana/cannabis start-ups
- Lodging and Marijuana tourism (think wine tasting)
- Event Planning (see Edible Events)
- Cannabis consulting business
Keep in mind that in order for any business to be successful it must be run like a business. Planning and hard work are imperative.The Attorneys at Odgers Law Group are ready to help you navigate through the evolving Marijuana Business Law landscape in California.