Signed by Governor Tom Wolf on April 17, Pennsylvania’s Medical Marijuana Act became effective on May 17, 2016. While the first patients are expected to receive prescriptions this summer, there is still time (and a long road ahead) for entrepreneurs and investors seeking to get in on the ground floor. That said, the license application for forming a medical marijuana business is fast , and anyone with intentions of starting a cannabis-based business in Pennsylvania should be taking strides now toward planning for the future.
Cannabis Consulting: Get Focused On Medical Marijuana Act Compliance
As Pennsylvania’s medical marijuana regulations continue to take shape over the years to come, new and established organizations alike will need to maintain a consistent focus on complying with the law. This includes not only growers, processors, and dispensaries, but medical schools, healthcare facilities, caregivers, and prescribing physicians as well.
At The Slocum Firm, we have been closely following the Medical Marijuana Act since its introduction in the Pennsylvania General Assembly as Senate Bill 3. We are continuing to monitor all developments regarding the establishment of regulations under the Act, and we are available to assist entrepreneurs, venture capitalists, physicians, healthcare organizations, and other interested parties in all aspects of compliance with the law.
Our cannabis consulting services include the following:
- Completing the Medical Marijuana Business License Application Process. For growers, processors, and dispensaries, the first major hurdle in starting a cannabis-based business is the medical marijuana business license application process. The process is extremely intensive, and you can almost certainly expect a degree of uncertainty as the Pennsylvania Department of Health begins processing applications in early 2017. In order to make sure that, (i) you qualify to apply, and (ii) your application gives you the best possible chance to secure a license as quickly as possible, you will want to make sure that you thoroughly understand the qualification criteria and application requirements.
- Establishing a Financial Stake in Pennsylvania’s Medical Marijuana Industry. Medical marijuana is a multi-billion-dollar industry, and Pennsylvania is soon expected to contribute significantly to the continued growth of the country’s legalized marijuana economy. For investors, the Medical Marijuana Act opens up a whole new world of opportunity. However, there are restrictions on who can invest under the Act, and there are numerous other federal and state-level legal considerations as well.
- Starting a Cannabis-Based Business. Entrepreneurs and investors entering the medical marijuana industry are going to need to be careful about limiting their risk exposure – both in terms of protecting their capital investment and avoiding potential legal liability. In this vein, establishing, funding, and properly-maintaining a soundly-formed legal entity has to be a top priority. Our attorneys are available to consult with clients regarding choice of entity, and we can prepare all of the legal documentation and filings necessary to form a new cannabis-based business in Pennsylvania.
- Consulting for Physicians, Caregivers, Medical Institutions, and Patients. From growers to patients, everyone involved in Pennsylvania’s medical marijuana industry will play a role in its success. This means not only continuing to advocate for the safe use of medical marijuana, but respecting the law and its requirements. Along with consulting new medical marijuana organizations, we are also available to advise physicians, caregivers, medical institutions, and patients regarding certification requirements, prescription limits, covered conditions, conducting scientific research with medical marijuana, and other matters.
Speak with a PA Medical Marijuana Attorney at The Slocum Firm
If you would like more information about our medical marijuana consulting services, we invite you to get in touch. To speak with a medical marijuana attorney at our offices in Scranton, PA, please call (877) 410-2341 or send us a request online today.