Sheppard Mullin is the latest Big Law firm to start a cannabis practice as the nation’s largest law firms embrace a once-illicit market now partly legal in more than two-thirds of U.S. states.
The California-founded firm said on Tuesday it would launch a team of 70 attorneys from 12 offices focused on the cannabis industry, which one of the firm’s partners said will account for $12 billion in global spending in 2018.
Illinois last week became the 11th state to decriminalize marijuana and the first to make the sale of recreational marijuana legal via the state legislature, according to the National Conference of State Legislatures. It remains illegal under federal law.
At least a dozen other Big Law firms market cannabis practices, including Duane Morris, Fox Rothschild, Seyfarth Shaw, Akerman, Dorsey & Whitney, Goodwin Procter.
Source: Roy Strom | Big Law Business