News: In the News
Higher Law: Valuation Vexation
Cannabis Attorney Quoted in Higher Law
By: Cheryl Miller, Law.com
Mergers and acquisitions may be a growing sector of marijuana law work, but how do you derive an accurate price tag for a business that trades in a federally illegal product, attracts a lot of scrutiny from the IRS, and has few historical benchmarks? Industry lawyers and analysts tried to answer that question this week on a program put together by Expert Webcast.
“There is really a tremendous exaggeration of the potential of the market in light of the fact that all of these legal policies and regulatory issues create inefficiencies that are almost unprecedented in any other industry,” said Offit Kurman Attorney. "So we haven’t achieved the economy of scale necessary for even disrupting the industry. We do not have any standardization.”
“People, I think are often unaware of how many known unknowns are significantly impacting what investors are actually hearing. It’s a green gold rush now but you should have been in this industry five years ago and gotten an actual understanding first hand.”
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