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Posts Tagged ‘medical marijuana’

Balance risk and reward in the medical marijuana business

You are an entrepreneur engaged in an emerging industry dominated by people who know how to start, run, and grow a successful business. Initiative, passion, and accepting risk are on display in your world every day. Without risk – rewards are diminished.

Part of accepting risk is assessing what you can control, and what is beyond your control. Risks related to finances, operations, reporting, compliance, governance, strategy, and so on may be more in your control and allow for greater risk assumption based on greater understanding. Other risks related to the actions of partners and employees, regulators, customers, and a myriad of unknown elements may be completely out of your control, and must be considered in a different way. Read more…

The Top Ten Risks of 2015

10risks2015WGA announces the Top Ten Risks of 2015, a forecast of some of the major business risks facing companies over the coming year.

1.   Clean Tech Risks in Response to Lima Protocol

The recent U.N. Climate Change Conference in Lima, Peru just ended, calling for nearly 200 countries to set out specific climate change targets during Q1 of 2015. Massive new concentrations of wind and solar energy farms bring about new risk aggregations for the coming decades. Read more…

Risk management, commercial insurance and employee benefits considerations for medical marijuana start-ups

November 13, 2014 Leave a comment

medmarSay that growing and distributing cannabis for medical treatment is your business. You are a classic entrepreneur – quite possibly personally funded. You are accustomed to quickly evaluating business opportunities and you are prepared to move swiftly when the occasion warrants. You have carefully selected a corps of legal and financial advisors to compliment your high energy. They understand your business and your objectives and are able to perform proper due diligence without delay when you come upon a compelling new deal. They also allow you to move quickly, enhancing the likelihood that any new venture will be worthwhile.

Legal and financial issues immediately garner your attention; however, two oft-forgotten components in this arena are risk management and human resources. Unfortunately, inattention to these areas can potentially and without warning end an investment before it begins. Read more…

Employer marijuana policies go to court over conflicting federal and state laws

September 9, 2014 Leave a comment

gavel_potPress reports highlight new conflicts over the inconsistencies between federal and state laws over marijuana usage by employees. Federal law requires government contractors to have drug-free policies that apply to federally controlled substances. In Colorado, the application of that policy via Dish Network’s employment practice led to the firing of Brandon Coats, after a drug test showed him to be a medical marijuana user. Coats, having lost his case at two levels is now arguing his case before the Colorado Supreme Court.

Coats maintains that his marijuana use is essential medical therapy. He also says that his usage is during off-work hours, so any impairment caused by marijuana is not evident in his work. He compares marijuana usage to recreational liquor usage. Read more…

Medical marijuana dispensaries face challenges from Fed and IRS

March 17, 2014 Leave a comment

irspotWith the legal U.S. cannabis market expected to reach 2.34 billion this year, use of marijuana continues to expand across the nation. As of today, 20 states and Washington D.C. have passed compassionate use laws, while 13 more have pending legislation to legalize the drug this year. American support has buoyed the state laws as well. According to a CNN/ORC International poll released in January, 55% of Americans support legalizing the drug, the highest percentage ever reported by the survey. In Massachusetts, marijuana policy reformers plan to introduce an initiative on the 2016 ballot to make pot legal for all adults, regulated similarly to alcohol.

However, along with the surge in market value and product use comes the need for a clear understanding about medical marijuana regulations beyond state borders. The U.S. Federal Government still Read more…

Cannabis and healthcare – is the drug here to stay?

potFor decades, advocates for the medicinal use of marijuana have espoused the benefits of its use in the treatment of many chronic illnesses. The web is full of stories and examples of how cannabis is offering relief to those who suffer from depression, cancer, ADHD and a host of other illnesses. The news cycles are full of the recent approval of the sale of medical marijuana in Colorado, Massachusetts, Washington and 17 other states across the US. But serious questions remain as to the impact and effectiveness of this “old miracle drug”.

The use of cannabis in healthcare dates back thousands of years. Ancient civilizations in China, Egypt and Greece all used cannabis in the treatment of various ailments and afflictions. While certain providers and organizations in the U.S. have advocated the health benefits of the drug, the U.S. medical community has only recently embraced Read more…

Medical marijuana legalized in MA presents health insurance coverage complications

December 18, 2013 Leave a comment

potThe legalization of medical marijuana in the state of Massachusetts was indeed a triumph for many, in particular those with adverse health conditions. Currently, 20 states and the District of Colombia have legalized medical marijuana use. The medicinal properties of marijuana are said to be effective. In small, controlled doses, medical marijuana has been known to alleviate symptoms associated with severe and chronic disease such as cancer, AIDS, multiple sclerosis, pain, glaucoma, and epilepsy, among others. Marijuana can stimulate appetite and reduce anxiety associated with aggressive medical treatments. The overwhelming irony is that while individual states can vote on whether or not to legalize medical use of the drug, federal laws prohibit its use resulting in persistent access and affordability issues.  Read more…