NEWARK, N.J., April 20, 2015 /PRNewswire/ -- Sills Cummis & Gross (www.sillscummis.com) has launched a Venture Capital/Regulated Substances Practice, building on the Firm's strong transactional practice. Jeffrey L. Wasserman, a Member of the Firm's Corporate Department, who focuses on venture capital and private equity deals, is leading the new group, assisted by Associate John Weldon.
Wasserman stated: "We are already representing clients investing in the legal cannabis-related marketplace and believe now is a great time to launch this practice, given the explosion of various states around the U.S. authorizing the use of legalized medical and recreational cannabis. While New Jersey is discussing the issue, current corporate and institutional clients are looking for legal counsel to prepare them for current and future investment opportunities in New Jersey, New York and the rest of the East Coast."
The newly formed Practice is designed to assist clients in managing the risks and opportunities in the rapidly evolving legal medical and recreational cannabis market.
PLEASE BE MINDFUL THAT POSSESSING, USING, DISTRIBUTING AND SELLING MARIJUANA ARE ALL FEDERAL CRIMES AND NO LEGAL ADVICE WE GIVE YOU IS INTENDED TO ASSIST YOU IN VIOLATING FEDERAL LAW NOR WILL IT IN ANY WAY ASSIST YOU IN COMPLYING WITH FEDERAL LAW. PLEASE ALSO NOTE THAT THE INTERNAL REVENUE SERVICE (IRS) WILL NOT RECOGNIZE YOUR ENTITY AS A NOT-FOR-PROFIT FOR FEDERAL TAX PURPOSES; YOU WILL NEED TO PAY FEDERAL TAXES AS THOUGH YOU ARE A FOR-PROFIT ENTITY.
Sills Cummis & Gross P.C. is a full-service corporate law firm with over 140 attorneys in New Jersey and New York. The Firm's work is diversified among industries such as pharmaceutical and medical device, life sciences, banking and finance, retail and commercial real estate, manufacturing, technology, health care and telecommunications.
SOURCE Sills Cummis & Gross