DLA Piper Opens an International Cannabis Law Practice
One of the largest law firms on the planet is entering the world of cannabis. DLA Piper is about to launch a worldwide cannabis law practice that will act as a subsection of their Life Sciences division.
Several big law firms have already joined the cannabis practice, including DLA Piper, which has, thus far, provided multiple advice on various legal matters — from private and public fundraisings to acquisition and post-merger integration, where it’s legal, of course, to a number of stakeholders, including investors and companies of all sizes and types.
As the firm claims, the reason for joining the cannabis law practice stems from the sheer number of contracts appearing on the global cannabis scene amounting to over $8 billion in revenue, including a large variety of cannabis regulatory advisory mandates.
As the global co-chair and head of the Life Sciences sector, Marco de Morpurgo, states, the global cannabis market is growing and this simply cannot be ignored. Additionally, the medical benefits of cannabis are also becoming widely accepted, and DLA Piper wants to support the legitimate expansion of this market and formalize their offering through this global cannabis law practice.
Robert Fonn, the Toronto-based corporate partner, will be in charge of the group along with Dylan Kennett, a senior associate from London, who will also have the support of an additional 70 lawyers, including the support staff, from more than 15 countries that are a part of the firm’s network.
Whether other major law firms will follow the steps of DLA Piper remains to be seen. Yet, one thing is for sure — the many potential benefits of joining this lucrative trade are definitely out there.