Mississippi Medical Marijuana Business Consulting and Lawyers
In November 2020, Mississippi voters overwhelmingly voted to approve medical marijuana Initiative 65 which directs the Mississippi State Department of Health to develop a medical marijuana program here in Mississippi. Initiative 65 sets deadlines for the Department of Health to adopt regulations by July 2021 and ordered the department to begin issuing medical marijuana cards by August 2021.
If you are a patient, it is extremely important to remember all forms of marijuana remain illegal in the state of Mississippi and will remain so until at least August 2021. Additionally, patients in Mississippi will not be allowed to possess medical marijuana unless it is obtained from a licensed Mississippi medical marijuana treatment center which is licensed by the Mississippi State Department of Health. If you are a patient seeking advice about medical marijuana, we recommend that you to speak with your healthcare provider about whether or not medical marijuana is appropriate for you to consider and to learn the next steps. Patients who wish to have a medical marijuana card in Mississippi will have to be examined by a Mississippi licensed physician and receive a certification that they have one or more of the qualifying medical conditions.
As with any new industry, many people are interested in the business opportunities Initiative 65 creates and our team recommends a conservative and thoughtful approach to anyone considering this nascent industry. The pitfalls and potential volatility of new state medical marijuana programs are notorious for being difficult to navigate and Mississippi’s market is not expected to be any different. Proceed with caution!
If you are considering the medical marijuana industry as an entrepreneur, and you don’t have money to burn, you will need to carefully navigate the business to be successful and avoid problems. Because there is no cap on licenses, competition could be heavy and lets face it, Mississippi does not have a large enough population to support too many medical marijuana treatment centers and/or growers. For example, experts say only 2%-3% of the population is expected to qualify for a medical marijuana card. On top of that, there is no way to know how quickly conservative Mississippians will warm up to this modern form of medicine.
Another factor, it is currently unknown how many doctors will make themselves available to patients seeking medical marijuana as an option for their debilitating medical condition.
At Roberts Wilson, P.A., our attorneys have spent a countless hours of time over the last three years researching and developing an understanding of the medical marijuana industry and meeting important players in the market. We are prepared to assist serious business interests and inquiries with the unique needs that arise in this space.
Licensing and Compliance
The Medical Marijuana program in Mississippi will be highly regulated and navigating the regulatory framework concerning federal and state law will likely be complex. While the rules and regulations have yet to be adopted, one would expect them to be similar to other states, and this means the license application process will likely to be subject to a high level of scrutiny by state regulators. Compliance with product testing, inventory control and “seed to sale” tracking will be an ongoing concern for all businesses and this is something everyone must take very seriously for the sake of the industry.
Multidisciplinary or Bust!
There is no other way to do it! The medical cannabis market is like very few other areas of business and requires very careful financial and business planning, as well as technical scientific, agricultural and engineering support. Simply put, a multidisciplinary approach which includes, financial planning, scientific and engineering advice and corporate legal support is essential to be successful. Here in our office, we have medical marijuana attorney, Roberts Wilson and resources in each of the other areas to help you determine your best path to enter the market.
There are very few industries with as much interest in it, any part of it, as there is in the marijuana space. We believe this is because of the controversy surrounding prohibition, which evokes strong passions from Americans, especially because of our innate desire for individual freedom and liberty. The cannabis industry, and the way it has emerged from prohibition is about as “American” as it gets and we are proud to be a part of it.
If you are trying to decide what area you might fit into, this is also something we would be happy to discuss with you, or help get you pointed in the right direction. Not everyone is a PHD who knows how to develop refined cannabis products, not everyone can be a grower but there are a lot of opportunities in this space outside the obvious things that might be of interest to people that do not have any specialized experience. And you can always partner up with someone and share resources which is what many folks do.
If you are interested in discussing how our medical marijuana lawyers and our multidisciplinary associates can assist you in your medical marijuana business development, please contact attorney Roberts Wilson by emailing him at [email protected] We offer a free initial consultation for those seriously interested in this emerging industry in the state of Mississippi.