Gibbons P.C. Chairman Examines the Top Issues Facing NJ

Steve Adubato is joined by Patrick Dunican, Chairman and Managing Director, Gibbons P.C., to examine the “business of law,” the complex road to legalizing recreational marijuana and the impact of legalized sports betting in New Jersey.

9/21/2019 #319

Excerpt:

"We're about a minute away. [laughter] Got over here… Long commute? Yes. Yes. One minute, today. Patrick Dunican is with us. We've in fact done some leadership development at your firm. A lot of your lawyers... let's say this… Some of the younger lawyers just jump right into this. How challenging is it to get lawyers, regardless of age, ready for the business of law today? Extremely challenging. Because? Well most lawyers go to law school because they enjoy the academic pursuits. Developing business is a primary skill that every lawyer needs to have in today’s marketplace and it's something that they haven't done. Anything with in terms of training? So that's why we go to people like you to help us out… Well patrick's talking about… We actually talk to folks a lot about this question of developing business. For you, how much of that is a natural thing is personality, without being overly philosophical, versus something you can train for? Yeah um you learn as you get older that developing business is all about relationship building. And that's something that you start in kindergarten. So everything you need to know, you learn in kindergarten. Yeah. We just actually talked to the superintendent of the newark public schools about those issues. Um, let's get into some subst… substantive issues.And I know that the firm represents different interests, if you will, and you'll disclose that? Mm-hmm. Cannabis... New Jersey… Cannabis? Not legal? It's… Personal use for recreation...not happening? Yeah. Medical? Yes, but we'll see what happens. Yes. Where are we? It's totally illegal. Under federal law. It's illegal. It hasn't changed. So if an administration decides... like the Trump administration or his successors, decide to shut it down in all of these various states that have allowed it… It'll get shut down. It's that... so… What about states rights? Yeah, they have those, but their federal law in the supremacy clause trumps states rights. So we've stayed out of that area you know a lot of my competitors are opening up, you know, cannabis practices, but it's not legal here in New Jersey, nor is it legal under federal law. Is it strategic to stay out of it? For the firm? That's the decision that we've made because there's great risk advising clients on how to have a cannabis business, when it's totally against federal law. The other area that there's a lot of attention on… New Jersey sports betting… onced legalized... outshone, if you will, in beating vegas. It's been a tremendous success. We were pleased to be involved in that case. We represented the state legislature in the federal court at the third circuit and before the supreme court. And it was the tremendous perseverance of then..."