Cannabis the focus of new law practice

marijuanaA Los Angeles-based law partner from a prominent firm is launching a cannabis-centered practice, a signal that marijuana has become big business.

“Quinn Emanuel Urquhart & Sullivan is formally launching a cannabis practice in the latest sign that Big Law views this once-illicit market as a serious growth opportunity,” reported Bloomberg Law’s Big Law Business.

The practice will draw on the expertise of more than 12 partners from six offices, the site explained.

“At least a dozen other large law firms have launched cannabis industry practices with cannabis now legal for recreational use in 11 states and the District of Columbia. The firm said another 33 states permit its use for medical purposes,” Big Law Business reported.

Some analysts predict that the marijuana market will grow to $75 billion in the next 21 years, the article noted.