No Good Weed Goes Unpunished
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The explosion of the legal marijuana industry in the U.S. is creating many related jobs while producing millions of dollars from investors and members of the pot-buying public. As a result, more and more legal weed companies are looking for legal representation with varying degrees of success.
While some law firms are embracing the opportunity to work in the new marijuana economy, many are distancing themselves, particularly those with ties to federal agencies that adhere to federal anti-marijuana laws.
Legal pot is projected to generate billions of dollars in annual revenue in the near future, creating countless opportunities for lawyers and others. In all, 23 states and the District of Columbia permit the sale and purchase of marijuana either for medical or personal use.
The issue for law firms is whether to embrace the available work or look for business elsewhere based on the existing federal laws prohibiting the production and sale of marijuana and/or how a firm’s members and clients feel about the issue. A handful of regional law firms and a few national firms already have made their decision and currently are working to expand their roles in the industry. At the same time, many firms are holding internal discussions to determine what related role, if any, they may take.
Either way, there’s virtually no chance that potential clients who need representation and have the wherewithal to pay for it will fail to secure it. After all, the issue of whether to represent unpopular or repugnant clients is not a new one. And the profession has a long history of ensuring that even the most unpopular clients get legal representation when they need it.
Besides, the potential opportunities for lawyers here are growing like, well, weeds.
Posted: 10/2/2014 1:28:00 PM by
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Thanks for stopping by On the Merits, the first blog from the Texas Center for Legal Ethics. On the Merits will take a close look at significant legal stories with an eye toward addressing the legal myths and misconceptions that turn up in news stories, movies, TV programs, websites, anonymous emails and other forms of mass communications. Our goal at On the Merits is to provide readers with a thoughtful examination of what the media and others are saying about the legal profession and to apply the frequently-absent context of how the legal system actually works.
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