Aug 9, 2021
Cannabis Backstory in AZ – from Inception to Now
- BRT S02 EP 32 (79) 8-8-2021
What We Learned This Week
Guests: Chris Gooch, Director w/ Fenimore Law
Christopher Gooch heads our real estate litigation practice. Chris represents clients in business matters including breach of contract, business torts, fraud, entitlement litigation, boundary disputes, condemnation actions, title disputes, landlord-tenant matters, professional malpractice, and construction law. His clients include a broad spectrum of entities, ranging from Fortune 500 corporations to entrepreneurs. Through his ongoing representation of various investors and operators as a business litigation attorney, Chris has also developed an expertise and understanding of Arizona's medical marijuana industry and regulations.
Chris talks Cannabis laws in AZ, commercial litigation, and business disputes in Cannabis between business & investors after initial licenses were issued. Also the disputes between license owners, and now the massive consolidation – big co’s buying licenses. There are 120 licenses in AZ, mainly 3 or 4 players own most, and then some mom & pop operators.
The Attorney General of AZ issued opinion found that law firms will not be prosecuted if work w/ Cannabis business, gave cover that legal offices could work in Cannabis, firms like Fennimore started working in Cannabis circa 2013. The Recreational Cannabis Licenses went to most of the current license holders. The original license carriers were kids, inexperienced, wasting $ money, while also acting as front men for Investors, which led to lawsuits, and some forced BK for investors to regain control of license (and force out the owners. The Cannabis business in AZ is now mature and calm.
Sara Gullickson, Founder / CEO - The Cannabis Advisors https://thecannabisbusinessadvisors.com/
Sara is an entrepreneur, investor, and corporate dealmaker with more than a decade of experience building and scaling businesses personally and professionally. A high-level strategist, Sara advises stakeholders on corporate structure, financing, and operations to better position their companies for growth and potential exit.
Sara tells how the Operation of the Cannabis Industry goes, and what new people need to know before operating a dispensary; Licensing process – buy a license vs renting one, & Future Growth in the AZ market. She also covers raising funds, M&A - recent consolidation in AZ industry, the issues owners face, building brands, regulations & upcoming changes.
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