New report: Legal firms chasing demand for marijuana-related advice
Pot is hot in the legal field. According to a new report, law firms are scrambling to keep up with demand from clients seeking advice regarding marijuana legalization.
In a special report, The Recorder at Law.com offers a wide-ranging update.
“There is just too much business to be had for these firms to ignore this,” Law.com reporter Cheryl Miller says in a 15-minute “Legal Speak” interview. “We have 33 states and the District of Columbia now where some form of cannabis is legal, and there’s such a demand for legal guidance from all these businesses that are sprouting up in response.”
Miller says clients dealing in areas such as real estate and employment law need legal advice to keep up with the rapidly changing marijuana market.
The federal-state conflict remains a major issue, she cautions. Banking regulation or cross-border travel particularly into Canada are examples of problem areas.
But firms such as Quinn Emanuel Urquhart & Sullivan and Bradley Arant Boult Cummings are encountering high demand.
Miller says, “These lawyers are finding that it’s a natural outgrowth of a strong employment practice, a strong real estate practice or a strong transactions practice or a strong litigation practice, and they’re having their existing clients come to them, and that leads to more business down the line.”