Sunday, January 17, 2016
You know that cannabis is getting legitimate when the American Bar Association starts touting it as a great practice field for new lawyers. The new edition of the ABA's Law Practice Today has an introduction to the topic by Neil Juneja, a founder of GleamLaw, one of the nation's first cannabis-focused law firms. It's a pretty good place to start.
Cannabis is the new hot topic of conversation, moving from the smoky dorm to the board room. The green rush is on, and, and as any gold rush of the past, there is good business in selling the picks and shovels to those seeking their fortunes. Coupled with the most difficult legal market for aspiring and new attorneys in the nation’s history, marijuana law is also a hot topic in law schools and in CLEs.
Marijuana is now legal for consenting adults in four states and Washington DC. Medical marijuana is legal in 23 states at the time this article was published. The international community is following suit, with an increasing number of nations decriminalizing or outright legalizing cannabis. Colorado now brings in more tax dollars from marijuana than from liquor. The momentum is clear; no matter which party conquers the 2016 presidential election, cannabis is here to stay.
While this nascent industry is growing at a pace unparalleled since the dot-com era, many large law firms refuse to service the clientele because the federal government considers marijuana to be a Schedule 1 drug, as defined by the Controlled Substances Act of 1970.