June 5, 2019 – Recent changes to state and federal law means hemp – marijuana’s nonpsychedelic cousin – is now a legal agricultural crop instead of an illegal controlled substance. Thus, hemp-based products and applications are starting to boom.

Industrial hemp, which contains less than 0.3 percent of tetrahydrocannabinols (THC), the psychoactive component in marijuana, has numerous practical applications.

Hemp fibers can be used in textiles likes clothes, rope, and paper products, while hemp grains can be cultivated for food and beverage products. Other parts of hemp plants, such as the hemp stalk’s interior, has numerous construction applications.

The wellness and food/beverage industries are embracing cannabidiol (CBD) oil, which is extracted from the hemp plant. CBD-infused food and beverage products, as well as CBD-infused lotions and creams, are everywhere. Many proponents say CBD contains medicinal properties that can address a myriad of health conditions.

This new hemp/CBD landscape presents a myriad of legal issues that lawyers will be called upon to figure out. Your clients are eager to benefit from this latest business opportunity, but because regulation is still forming, there are a lot of lingering questions.

To explore those questions, State Bar of Wisconsin PINNACLE^® is producing a seminar, Hemp & CBD Oil in Wisconsin: The New Green Gold. PINNACLE is hosting a live, half-day seminar on June 19, followed by webcast replay dates through August.

Panelists will discuss the legislative history of hemp’s legal acceptance, manufacturing, processing, and retail considerations. Panelists will also discuss how lawyers can address client concerns despite uncertainties in the law. How do you advise?

As a precursor, the State Bar caught up with Collin Schaeffer of Ogden Glazer + Schaefer, one of the five panelists who will deliver the PINNACLE program (see video above). Schaefer is a business lawyer who has a handle on this emerging area.

He notes that lawyers will be instrumental in helping clients navigate the regulatory maze to get their businesses running and help them address compliance issues.

“I think this is a particularly growth environment for our business as lawyers, but also for our clients and other entrepreneurs as this is going to really offer them another avenue for success in our state,” Schafer said.