The U.S. Hemp Industry: Loopholes, implications, and looming change

Andrew Cooper
Andrew Cooper | Falcon Rappaport & Berkman LLC

Andrew is Counsel at Falcon Rappaport & Berkman LLC where he Chairs the Firm's Cannabis & Psychedelics and Healthcare Practice Groups.

Live Video-Broadcast: August 15, 2024

The U.S. Hemp Industry: Loopholes, implications, and looming change

$195.00 2 hour CLE

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Program Summary

The Agriculture Improvement Act of 2018, commonly referred to as the “2018 Farm Bill,” removed hemp from the definition of marijuana in the Controlled Substances Act (CSA). This change paved the way for a national crop: hemp, defined as any part of the cannabis plant (Cannabis sativa L.) and any part of that plant, including the seeds thereof and all derivatives, extracts, cannabinoids, isomers, acids, salts, and salts of isomers, whether growing or not, with no more than a 0.3 percent concentration of delta-9 tetrahydrocannabinol (THC) on a dry weight basis. While the removal of hemp from the CSA appeared to be a straightforward change, the ramifications were anything but. In this session we will discuss the national hemp market, how it has changed and developed following 2018, and a look towards the uncertain future of hemp.

This course is co-sponsored with myLawCLE.

Key topics to be discussed:

  • Legal Background of Hemp
  • U.S. Hemp Industry (2018 to Present)
  • The Future of Hemp and Potential Changes to the Industry

Date / Time: August 15, 2024

  • 11:00 am – 1:10 pm Eastern
  • 10:00 am – 12:10 pm Central
  • 9:00 am – 11:10 am Mountain
  • 8:00 am – 10:10 am Pacific

Closed-captioning available

Speakers

Andrew P. Cooper_FedBarAndrew Cooper, Esq., LLM | Falcon Rappaport & Berkman LLC

Andrew is Counsel at Falcon Rappaport & Berkman LLC where he Chairs the Firm’s Cannabis & Psychedelics and Healthcare Practice Groups.

After spending most of his over 30 years of practice as a trial and transactional attorney, handling primarily intellectual property (patent, trademark and copyright), commercial litigation, and healthcare matters, and as General Counsel representing companies in markets such as salty snacks (as General Counsel for Robert’s American Gourmet, the manufacturer and distributor of the iconic “Pirate’s Booty”) and beer, wine and liquor (representing BH Group, the manufacturer and distributor of “Notorious Pink”), Andrew pivoted to cannabis several years ago.

Since that time, Andrew has used the skills he’s honed as an IP and Healthcare lawyer to represent clients in and around the emerging cannabis industry. Andrew is considered a leading expert on cannabis & psychedelics and represents businesses and individuals at every level of the cannabis supply chain. Clients include state-licensed adult-use marijuana and hemp cultivators, processors, delivery companies, distributors, testing laboratories and dispensaries, whether vertically integrated or operating as standalone businesses, as well as investors in those businesses. He also represents a full range of vendors and ancillary players that supply their products and services to the cannabis industry, from raw materials, technology, advertising and marketing, consumption products, beverage, and security companies.

Andrew is also committed to help build a truly equitable cannabis model in the Tri-State area (New York, New Jersey & Connecticut). As an Executive Board Member of The JUSTÜS Foundation, a § 501(c)(3) not-for-profit organization dedicated to ensuring and facilitating the entry of legacy operators to the legal cannabis market, Andrew has assisted social equity and justice-involved applicants pro bono in structuring their businesses and navigating through the licensure process, as well as through incubator programs at every vertical to ensure that they have the operational experience necessary to succeed.

Andrew is also an Adjunct Professor of Law at the Maurice A. Deane School of Law at Hofstra University where he currently teaches a course entitled “The Law & Business of Marijuana”.

Andrew also has been recognized as a Super Lawyer (2013 – 2023) (Cannabis).

https://www.linkedin.com/in/andrew-cooper-7964766/

https://frblaw.com/professionals/andrew-cooper/

 

The Cannabis & Psychedelics Practice Group of Falcon Rappaport & Berkman

It is composed of an interdisciplinary team across the firm’s various practice groups, experienced in the unique considerations associated with cannabis and psychedelic related businesses.

FRB leverages its controlled substances expertise and extensive background in therapeutic services, branding, and compliance to assist those seeking to launch or expand their legal cannabis or psychedelic businesses. The firm’s cross-disciplinary approach combines in-depth advice for all matters of business with deep subject matter proficiency and a proactive analysis of relevant laws and markets. The Practice Group offers a full range of legal and consultative services including licensure preparation, applications and strategy, business planning, industry segmentation, establishing partnerships and joint ventures, branding and intellectual property, real estate, regulatory compliance matters, expansion planning, industry advocacy, and more.

FRB has assisted clients in obtaining cannabis licenses in numerous states in both competitive and non-competitive licensure processes. We work with health care professionals, cannabusiness entrepreneurs, municipalities, caregivers, patients, ancillary goods and service providers, and many others in handling all aspects of the cannabis and psychedelic industries. Our specialized approach is intended to help clients cut through the complex state-by-state legal and regulatory environment and stay ahead of the curve.

How can FRB’s Cannabis & Psychedelics Practice Group help you achieve your goals?

  • Cannabis & psychedelic business planning and formation
  • Investment and fundraising planning and outreach assistance
  • Real Estate for cannabis uses, including acquisition, disposition, leasing, land use and zoning issues
  • Cannabis & psychedelic related taxation and tax planning for cannabis businesses at the State and Federal level, including the potential use of Qualified Opportunity Zones (or QOZs) for cannabis businesses
  • Cannabis & psychedelic licenses, license application, and compliance with relevant laws and regulations
  • Branding and intellectual property protections, helping cannabis businesses build and grow their brands at both the Federal and State levels
  • Commercial contracts and license agreements
  • Securities issues related to cannabis investment offerings
  • Issues related to hemp, hemp-derived cannabinoids, and CBD
  • Psychedelic and therapeutic business formation & planning
  • In-depth market knowledge to inform best practices and anticipate regulatory changes

Agenda

I. Legal Background of Hemp | 11:00am – 11:20am

II. U.S. Hemp Industry (2018 to Present) | 11:20am – 12:00pm

Break | 12:00pm – 12:10pm

III. The Future of Hemp and Potential Changes to the Industry | 12:10pm – 1:10pm