--- title: 200 Words on Good Governance and Why it is Needed to Attract Capital description: As the legal cannabis industry continues to mature, more opportunities abound to attract outside investors. We have seen just this past week that Washington and Colorado are proposing to allow publicly traded companies to invest in and even own local cannabis businesses. If you are interested in attracting outside capital infusions to spur serious growth, […] image: https://cdn.prod.website-files.com/66525ec138843cc1ccb1c325/68c301ebaa36be33aa2af8f7_1a3f16114a452999cc4d7d6b36ae1602_Obedio%20march%20of%20progress.png --- [Skip to content](https://hs.getobedio.com/blog/2019/02/10/2019-2-10-200-words-on-good-governance#main-content) [![Obedio logo with black text and an orange graphic composed of four circles and a diagonal arrow pointing up and right.](https://cdn.prod.website-files.com/66525ec138843cc1ccb1c325/66529844eddaa630d6da1b42_obedio%20gold%20for%20white%20background.png)](https://getobedio.com) [Team](https://www.getobedio.com/team) [Pricing](https://www.getobedio.com/pricing) [Contact](https://www.getobedio.com/demo) [Blog](https://www.getobedio.com/blog) [Login](https://obed.io/v4/login) ![](https://hs.getobedio.com/hs-fs/hubfs/Imported_Blog_Media/6d6b9-rick-tap-110126-unsplash.jpg?width=2500&height=1669&name=6d6b9-rick-tap-110126-unsplash.jpg) Governance Colorado # 200 Words on Good Governance and Why it is Needed to Attract Capital ![Susan Ameel](https://7528315.fs1.hubspotusercontent-na1.net/hub/7528315/hubfs/raw_assets/public/mV0_d-cms-elevate-theme_hubspot/elevate/images/avatar-placeholder.jpg?width=48&height=48&name=avatar-placeholder.jpg) Susan Ameel February 10, 2019 As the legal cannabis industry continues to mature, more opportunities abound to attract outside investors. We have seen just this past week that Washington and Colorado are proposing to allow publicly traded companies to invest in and even own local cannabis businesses. If you are interested in attracting outside capital infusions to spur serious growth, it is key to establish a solid corporate governance structure. Here are three tenants of such a structure: First: Independent Directors. Serious investors want to see that you have credible, qualified independent oversight. These directors should have no monetary interest in the profitability of your business, directly or indirectly, and as such, can give you impartial, informed advice as to the best ways to move your business forward, to the benefit of you and your investors. Your directors should have the business experience necessary to give you valuable advice and yes, you can pay them for it, as long as it is a reasonable amount. Second: An Established Compliance Program. Local laws abound with the “do’s and don’t’s” of your cannabis business. This is the biggest challenge facing all entrepreneurs these days since the exact standards of compliance are a moving target. It is essential to be proactive in adopting an actionable compliance manual that addresses the “knowns” and, in good faith, anticipates the “unknowns”. Always remember that, in compliance, the two things that get you in the most trouble are your friends and haste. Third: Continuity in Communication. Make sure you are able to give your directors and investors up to date information on an established schedule, preferably quarterly. These communications should include both factual data from the past quarter/year as well as your forecast on upcoming quarters. If you have investors that are private equity funds you can likely count on them to establish this communication schedule on their terms but, regardless of their wants, be sure to give yourself enough time to compile an accurate, up to date account. ## Share this post [mailto:https%3A%2F%2Fhs.getobedio.com%2Fblog%2F2019%2F02%2F10%2F2019-2-10-200-words-on-good-governance](mailto:https%3A%2F%2Fhs.getobedio.com%2Fblog%2F2019%2F02%2F10%2F2019-2-10-200-words-on-good-governance) ## Keep reading ### [California Ballot Measure Local Municipalities California voters will decide 118 local tax measures and $8.07 billion in bond requests on November 3](https://hs.getobedio.com/blog/california-voters-will-decide-118-local-tax-measures-and-8.07-billion-in-bond-requests-on-november-3) ### [Local Ordinance Zoning Ordinance Development Data Federal Realty Asks La Mesa to Approve a 165,000-Square-Foot Bass Pro Shops Where Macy's Stood at Grossmont Center](https://hs.getobedio.com/blog/federal-realty-asks-la-mesa-to-approve-a-165000-square-foot-bass-pro-shops-where-macys-stood-at-grossmont-center) [![Obedio your municipal data source](https://hs.getobedio.com/hs-fs/hubfs/google%20workspace-1.png?width=100&height=41&name=google%20workspace-1.png "Obedio your municipal data source")](https://getobedio.com) Obedio's business intelligence platform provides data and insights from over 25,000 municipalities, enabling retail, manufacturing, finance, real estate, and government clients to make informed decisions, assess risk, and identify opportunities. **Data Source & Liability Disclaimer:** The data presented on this website is aggregated from various official government and public entities ("The Original Government Sources"). This data may have been modified for use from its original source. The Original Government Sources do not vouch for the quality, accuracy, or timeliness of the data as presented here. All data is provided "as is." Neither Global Regulatory Risk Advisors, Inc. (d/b/a Obedio) nor The Original Government Sources make any representations or warranties as to the completeness, accuracy, or content of any data made available through this site. All warranties, whether express or implied, including implied warranties of merchantability or fitness for a particular purpose, are expressly disclaimed. **Usage & Intellectual Property:** While the underlying facts are public records, the specific compilation, organization, and presentation of this information are proprietary to ****Global Regulatory Risk Advisors, Inc. (d/b/a Obedio)****. Any unauthorized copying, distribution, or display of this proprietary presentation is prohibited. Copyright © 2018–2026 Global Regulatory Risk Advisors, Inc. (d/b/a Obedio) [|](https://getobedio.com/privacy)[Terms of Service](https://getobedio.com/terms)[|](https://getobedio.com/privacy)[Privacy Policy](https://getobedio.com/privacy) Privacy Policy · Legal · © 2025. All rights reserved. ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Susan Ameel", "url" : "https://hs.getobedio.com/blog/author/susan-ameel" }, "dateModified" : "2025-02-28T01:23:13.725Z", "datePublished" : "2019-02-10T19:08:48.000Z", "headline" : "200 Words on Good Governance and Why it is Needed to Attract Capital", "mainEntityOfPage" : { "@id" : "https://hs.getobedio.com/blog/2019/02/10/2019-2-10-200-words-on-good-governance", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://hs.getobedio.com/hubfs/google%20workspace-1.png" } } } ``` ```json { "@context" : "https://schema.org", "@id" : "https://hs.getobedio.com/blog/2019/02/10/2019-2-10-200-words-on-good-governance#breadcrumb", "@type" : "BreadcrumbList", "itemListElement" : [ { "@type" : "ListItem", "item" : "https://www.getobedio.com/", "name" : "Home", "position" : 1 }, { "@type" : "ListItem", "item" : "https://hs.getobedio.com/blog", "name" : "Blog", "position" : 2 }, { "@type" : "ListItem", "item" : "https://hs.getobedio.com/blog/2019/02/10/2019-2-10-200-words-on-good-governance", "name" : "200 Words on Good Governance and Why it is Needed to Attract Capital", "position" : 3 } ] } ```