South Dakota officially passed both recreational and medical cannabis on November 03, 2020. Many entrepreneurs are waiting to take advantage of the new laws and explore new business opportunities. However, a quick search through Google and you will realize there isn’t much to do right now – you can’t apply for licenses yet, there are no forms to fill out, there are no registration procedures in place. The laws enacted mandate state and local governments to create these policies and licenses for the sale, distribution, and growth of cannabis. Until that time, new business owners will need to ensure their cannabis business is set up for success.
What can you do now?
Step one. It’s time to visit with a qualified South Dakota business attorney who is familiar with the cannabis industry.
You need to make sure your business documents are rock solid. LegalZoom and other online legal sites are not designed to give you the unique and properly drafted documents you will need to ensure you have the right legal protections in your business to both protect your business and your other personal assets. Simply filing online is not enough and will not protect you from lawsuits, divorces, and death. Setting up properly with the goal of establishing a cannabis business will make you better prepared for the highly regulated environment your business is about to enter and help provide protections from any potential (& likely) missteps in such a new and complex area of the law. You can’t build a house without a foundation. Don’t build your business without a rock-solid set up.
Call us today to set up your no cost initial cannabis business meeting. We will walk you through the steps you need to take NOW so you are ready to apply for the appropriate licenses as soon as they are available. Rock-solid planning doesn’t happen overnight. Call 605-777-1772 or email us at [email protected]. We offer ZOOM and in-person meetings for your convenience. Get set up right today so you can be a step ahead tomorrow.
