New Jersey ROI reports…
Lawyers looking for the next hot trend in New Jersey are opening up shop in the areas of cannabis and blockchain.
The former is a result of interest from Gov. Phil Murphy’s new administration — the state has already embraced expanded uses of medical marijuana and is working on legalization for recreational use — and the latter is a growing business trend, as more companies discover uses for a secure, online ledger to track transactions.
While recreational legalization is still up in the air, medical marijuana is already raking in the green for lawyers, many of whom have been dominant in the health care space.
John Fanburg, at Roseland-based Brach Eichler, is one such attorney.
“We’re getting calls from people locally, as well as nationally and internationally,” Fanburg said. “Regardless of what is happening in Trenton, it is not slowing any player down to get involved from either a medical perspective or recreational.”
Though Murphy has not been able to push through legalization for recreational use, or adult regulated use, as lawyers refer to it, it is already good business.
“Which is why we see other law firms and accounting firms seeing this as a business opportunity,” Fanburg said. “For lawyers, the more regulated the industry, the more helpful a lawyer can be for his or her clients.”