corporate governance

MRA Introduces Proposed Marijuana Rule Sets

2020-01-14T10:46:52-05:00January 14th, 2020|

Soon, the Marijuana Regulatory Agency (MRA) will hold a public hearing to receive public comment on the proposed combined topic-based rule sets. The proposed topic-based rule sets are intended to provide clarity/consistency to those working in both the medical and adult-use markets. The rule sets provide for the implementation of a program to license medical [...]

What is the 10% Rule for Michigan Cannabis Licenses? 

2019-11-14T10:56:44-05:00November 13th, 2019|

All Michigan cannabis licenses start with a prequalification application. Prequalification is the State of Michigan’s background check process for entities and individuals hoping to own and operate marijuana establishments. Prequalification involves a significant audit and review of the applicant entities financial and operational history, as well as a review of all significant stakeholders and their [...]

Is It Too Late to Get Into the Legal Cannabis Industry?

2019-10-11T10:37:10-05:00October 11th, 2019|

The legal marijuana industry grew to $10.4 billion in 2018 in the United States and employs more than 250,000 people, according to research firm New Frontier Data. With the cannabis industry booming and changing constantly, it may seem overwhelming and deterring if you’re thinking of breaking into the industry. You might ask: is it too late to [...]

Creating your Cannabusiness: Is an LLC Right for You?

2019-06-26T14:48:15-05:00June 19th, 2019|

A limited liability company (LLC) is defined as a simple business structure. LLCs combine characteristics of a partnership, sole proprietorship and corporation but remains an unincorporated association. There are a number of advantages to establishing your cannabusiness LLC, but four that especially stand out as it relates to the cannabis industry.  Limited Liability  As the [...]

Looking Beyond the Paperwork: Corporate Governance Practices

2019-06-26T14:52:44-05:00June 12th, 2019|

Operating agreements​, ​bylaws​, corporate books and meeting minutes. These are the basic documents when people think of “corporate governance." After all, they define the structure of the company and how the business governs itself. However, in today’s economy, corporate governance needs to extend beyond just the documents. Corporate governance is not just ​how y​our board [...]

5 Fast Facts and Updates about the MRA

2019-05-06T08:29:37-05:00May 6th, 2019|

On April 30, the Michigan Marijuana Regulatory Agency (MRA) established through Gov. Whitmer’s Executive Order 2019-7. Led by Executive Director Andrew Brisbo, the MRA implements fresh practices to streamline the application process and ensure safe access to marijuana products. This agency replaces the Medical Marijuana Licensing Board, whose inefficiencies became notorious among potential applicants. Since [...]