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