Amy Margolis Shares Her Cannabis Story, Legal Advice: 'Entrepreneurs Need To Be Nimble, Adaptable And Willing To Pivot'

Amy Margolis has been practicing law for more than 15 years. She's the founder of the Oregon Cannabis Association and advises businesses and investors on capital deployment issues, multijurisdictional growth, public offerings and corporate development.

Not long ago, Margolis opened The Commune, a 4,000-square-foot venue for marijuana-friendly events with office and boardroom space. It was her latest endeavor that interested us the most: The Initiative, a business accelerator focused on helping female-founded cannabis businesses succeed and find funding.

Tackling Cannabis Law

Why did Margolis get into cannabis work?

“I came to this from a social justice perspective,” she said.

“Having practiced criminal law for nearly a decade, I saw firsthand the damage the drug war inflicts. I’m motivated by the idea that, by legalizing cannabis, we could prevent the ongoing incarceration of a segment of nonviolent offenders. I also believe that if this experiment goes well, and it is clearly going well, we can have a more broad and expansive impact on the way we treat other drugs and drug offenders.”

Overcoming Challenges

Entering cannabis work wasn't a challenge, Margolis said.

"The challenge has been to be able to provide ongoing and meaningful support to so many people who have invested their entire savings and hopes and dreams into an industry that might be the most complicated and volatile space yet,” the attorney said.

Legal Advice

Given Margolis' background, Benzinga asked what her takeaway is for cannabis entrepreneurs.

The cannabis industry is extremely challenging for many different reasons, meaning that entrepreneurs must be nimble, adaptable and willing to pivot at any time, she said.

“They need to be well-capitalized to survive what are essentially false open markets and to deal with constant regulatory challenges. Finally, they need to pick good investment partners. Sometimes the easiest money makes the worst partner, especially in an industry that is still highly speculative and without much traditional capital.”

The Initiative's board of advisors is stacked with boldface names:

• Mowgli Holmes of Phylos Bioscience.
• Emily Paxhia of Poseidon Asset Management.
• Dr. Janice Knox of American Cannabinoid Clinics.
• AC Braddock of Eden Labs.
• Carlos Perea of iAnthus Capital Holdings Inc ITHUF.
• Rick Turoczy of the Portland Incubator Experiment.
• Glynis Olson of Finger Bang.
• Katie Kiernan of TWYLA.
• Amanda Reiman of Flow Kana.
• Attorney Josh Goldstein.
• April Pride of Van der Pop.

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