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Corporate law: Legal tips for a new Colorado cannabis business

On Behalf of | May 21, 2021 | Cannabis Business

The growing cannabis industry in Colorado can provide you with a lucrative income. More residents than ever are considering opening a marijuana dispensary in the Denver region of the state. While there is still room for growth in this industry, it is wise to acquire legal guidance before taking your first steps.

Despite the potential for success, cannabis dispensaries must comply with many regulations and rules. Study these regulations carefully before you commit to investing in such a business. You can also learn a lot by partnering with a corporate law attorney with experience guiding residents in opening a state-regulated marijuana business.

Examples of regulations with which compliance is mandatory

As it does with the alcohol industry, lawmakers in the state want to ensure regulated cannabis businesses do not pose any risk of harm to the public. As such, new cannabis businesses require several vital steps on the part of the licensee. Below, you will find several examples of these critical regulations:

  1. The consumption of any form of cannabis is not allowed on licensed business premises.
  2. All visitors must present proof that they are 21 years of age or older before entering the licensee’s premises.
  3. Licensees must submit accurate diagrams of limited access areas to the proper jurisdiction and licensing authority.
  4. Licensed cannabis companies cannot hold an alcoholic beverage license on the same premises.
  5. Licensees and their employees must comply with applicable public health orders issued by a state agency.
  6. Those wanting to open a retail cannabis dispensary must apply for all required licenses and pay their associated fees.

As you can see, it takes a lot of effort and patience to operate within the state of Colorado’s cannabis industry. However, once you complete the required steps and obtain the necessary licenses, it is not that hard to remain current with the state’s marijuana business laws.

If you’re thinking about getting into the industry, it may be time to speak with an experienced attorney about the process. Getting off to the right start is essential.