Review Past Event: Mad Money Webinar
Originally Held: February 13, 2020
Time: Noon to 1 p.m.
Like the old Wild West depicted in Hollywood movies, the cannabis industry remains a rough and tumble business landscape fraught with pitfalls, ambushes and potential costs.
Self-inflicted wounds from shareholder disputes and external “attacks” by local, state and federal authorities often result in the unnecessary loss of significant time and resources by cannabis business owners and investors.
This complimentary webinar delved into these two main areas of consternation and offer practical advice for minimizing or even avoiding these “maddening” money issues in your medical or adult-use cannabis business. Below is a summary of the topics that were covered:
- Pre-dispute mediation requirements
- Access to and keeping of books and records responsibility
- Arbitration and arbitrability
- Authority to bind company
- Book value and normalized adjustments in a buyout or dispute
- Fiduciary duties to entity and co-owners
- How changes occurring as a result of disputes may effect pending applications and existing licenses
- Notice requirements to state regulators of changes in operations, owners, officers, members or managers
- Notice requirements for judgments, lawsuits, legal proceedings
- Potential penalties for failure to provide notice, including denial of license or renewal of license
This webinar was designed to be benefit cannabis business owners, suppliers, investors and others interested in learning more about this rapidly expanding market in Michigan.