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The “Legal” Marijuana Industry's Challenge For Business Entity Law, Luke M. Scheuer
The “Legal” Marijuana Industry's Challenge For Business Entity Law, Luke M. Scheuer
Luke M Scheuer
In recent years many states have legalized the use and sale of marijuana for medical or even recreational purposes. This has led to the booming growth of a “legal” marijuana industry. Businesses openly growing and selling marijuana products to the consuming public are faced with some unusual legal hurdles. Significantly, although the sale of marijuana may be legal at the state level, it is still illegal under federal law. This article explores the conflict between state and federal marijuana laws from a business entity law perspective. For example, managers owe a fiduciary duty of good faith to their businesses and …
A Business Review Of The Delaware Series: Good Business For The Informed, Ann E. Conaway
A Business Review Of The Delaware Series: Good Business For The Informed, Ann E. Conaway
Ann E. Conaway
Delaware has long attempted to provide business structures that reflect the demands of the business community in an efficient and productive manner. One prime example of this demand/response is the "series" interest available in Delaware limited partnerships, LLCs, and statutory trusts. The series structure combines the flexibility that different types of businesses desire along with the statutory and contractual support that Delaware provides to all of its unincorporated business organizations. Other states have now emulated the Delaware series concept, although there is still considerable confusion as to how a series works. This piece provides an overview of some of the …