Corporate Governance
Marijuana Business Lawyers
Once you have your marijuana business organized, the next question is how
are you going to manage your business? Each of the various business entity
types have different requirements for how they are supposed to be managed
and who has the right to act on behalf of the company. While State law
typically provides baseline rules and requirements for operating various
business entity types, well drafted corporate governance documents, such
as Bylaws, Operating Agreements, Partnership Agreements, and Shareholder
Agreements, are designed to clearly lay out how the business is to be
managed and what responsibilities and obligations (if any) the owners
have to the company.
Depending on the type of business entity you’ve selected, your company
may be managed by the owners or by professional managers hired to operate
the business on behalf of the owners. A company’s corporate governance
documents will detail how the owners interact with the business, how the
profits and losses are allocated amongst the owners, and other important
matters affecting the operations of the business. Properly drafted corporate
governance documents make sure that all of the business owners are on
the same page regarding how the business is supposed to operate and reduce
the potential for confusion and miscommunication between the owners and
the business.
Documenting your business’ major management decisions are a key part
of managing the day-to-day operations of your cannabis business. Written
resolutions and management meeting minutes help document the decision-making
process and ensure that everyone in the company is on the same page. Company
resolutions and minutes are also used to assure third parties that the
company’s management has approved a particular decision or course
of action.
Our business attorneys have decades of experience drafting, reviewing,
and revising corporate governance documents for all entity types. Let
our knowledgeable team help you prepare perfectly tailored corporate governance
documents for your business and rest easy knowing that everything is set
up just the way you want.
Free initial consultations are available for potential clients: Call (888) 458-0991