Are you Ready to Enter the Thriving Hemp Market?
Entrepreneurs looking to break into the hemp or CBD market in Tennessee are getting started at an opportunistic time, and Schaffer Law Firm is perfectly poised to serve this unique sector of entrepreneurs. Our extensive background in other regulated industries means we can help you understand both Tennessee hemp and CBD laws and how they might affect your business or ability to grow and sell hemp in Tennessee.
Go Where the Money Grows:
- U.S. hemp market is expected to reach $2.6 billion in consumer sales by 2020
- U.S. CBD market is projected to pull in at least $16 billion by 2025
- Hemp farmers find opportunities sourcing the plant for paper, building materials, plant protein, rope, CBD, and more
While the industry has always been positioned for lucrative growth, the passage of the 2018 Farm Bill has only made this industry more exciting – and potentially profitable – for the entrepreneurial community. Coupled with Tennessee state laws, hemp and CBD are safe and legal to sell and consume.
The Farm Bill
The Farm Bill legalized the cultivation of hemp on a national level and loosened the federal restrictions on CBD laws to allow broader cultivation and distribution across state lines. In lifting these restrictions on the industry, it also enacted heightened quality-control measures for consumer safety.
Tennessee Pilot Program
In Tennessee, a pilot program was launched in 2015 allowing anyone to obtain a license to grow, process and distribute hemp and CBD.
Tennessee Hemp Licenses
Beginning in June 2019, Tennessee’s hemp growing licenses were made available year-round, instead of limiting the application period to a four-month time frame.
Prospective applicants should contact Schaffer Law Firm as soon as possible in order to get their applications prepared and hemp business set up legally. Our attorneys will guide you through the continually changing, highly regulated industry. We keep an eye on current and pending legislation so you can understand which local, state and federal laws will affect your business now and in the future.
Schaffer Law Firm Hemp and CBD Services:
- Regulatory compliance
- Corporate formation and structuring advice
- Trademark search and registration
- Copyright protection
- Subcontractor agreements
- Proposals/letters of intent for leasing space
- Employee agreements
- Employee handbooks
- Industrial Hemp application assistance
- TN Department of Agriculture Getting Started Page
- Link to TCA §43-27-101 to 108
- Industry states per state