Florida's GrayRobinson Adds New Practice Group to Handle Marijuana Issues
Even before any conclusion has been reached on Amendment 2 in Florida, or it has gone to the ballot, (November 2014), full service law firms are gearing up to tackle issues that may arise once the Florida Right to Medical Marijuana Initiative is passed. The approval of the proposal seems to be as much assured. The recent news is that Orlando-based GrayRobinson, one of Florida's largest law firms has floated a new Regulated Products Practice Group anticipating demand of legal services in this grey area.
GrayRobinson's Regulated Products announces that the group "provides clients with the legal support and compliance guidance to successfully navigate the regulatory maze associated with the manufacturing, ordering, distribution, marketing, sale, administration and consumption of various products."
On its face, the group will be aiding with such compliance in all manners of products that fall under some regulation or another, but another paragraph on the web page makes things clearer. The firm says, "As Florida ventures into the complex world of medical marijuana commerce and regulation, GrayRobinson attorneys are exceedingly qualified to offer counsel on interpretation of law surrounding the growth and distribution, commercial finance, sale, and ordering of marijuana for medical use."
The law firm claims its recognized position as one of the leading alcohol law groups in the country makes it ideally suited to launch a practice group for regulated products. Other law firms have also been readying themselves for regulated products practice and one of the latest is Akerman, which launched a regulated substances task force in May.
A recent article published by the New York Times compares the wave of marijuana legalization in the country with a gold rush and states that the size of the noncriminal marijuana industry in the country is expected to grow from $1.5 billion last year to about $2.6 billion this year. There are already about 80 marijuana-related companies trading publicly in the country though earlier this year securities regulators have suspended trading in five of them. There may also be, as usual, new companies trying to dupe investors interested in marijuana-related businesses.
Naturally, marijuana legalization in Florida is expected to usher in a rush of business activities and involvement of people at all levels from entrepreneurs to distributors and sellers. GrayRobinson claims that its Regulated Products Practice Group involves attorneys and professionals from diverse backgrounds "to provide comprehensive legal representation to clients entering regulated product marketplaces."
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