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News & Events > News > Sherrill Corbett and Jessica Morgan Explore Cannabis Business Transition Strategies for PBJ Podcast

Sherrill Corbett and Jessica Morgan Explore Cannabis Business Transition Strategies for PBJ Podcast

4.24.2020
Tonkon Torp attorneys Sherrill Corbett and Jessica Morgan were featured guests on the April 8 episode of the Portland Business Journal’s Thought Leadership Podcast. Their episode explored smart transition strategies for businesses in the cannabis industry.

Sherrill and Jessica shared ways that a business can prepare itself for inspection by a buyer or investor, red flags that both buyers and sellers should look for, how a company’s value is set, the timeline for a deal to close, and why the sale structure is important from a regulatory approval and tax perspective.

The attorneys also stressed the importance of nondisclosure agreements to protect highly competitive and sensitive information and keep it from being used against a seller in a competitive way should a deal not go through.

They closed out the episode with a look at the benefits of proactively assembling a team of internal stakeholders and professional service providers such as CPAs and attorneys to prepare for a quick response to an interested buyer or investor. Outside experts will know where to look for potential issues that could scuttle a deal or decrease its value, can help a company resolve those issues, and will protect a seller through the process.

Listen to the podcast here.
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