Students in this course will explore business model innovations that are applicable across industries, and will also delve into concepts and constructs that are unique to the highly regulated and rapidly evolving cannabis industry. In exploring contemporary business models and corporate structure students will learn about common patterns and how to systematically understand, design, and implement a game-changing business model--or analyze and renovate an old one. Key elements for business model innovation across all industries to be analyzed include customer segments, value propositions, channels, customer relationships, revenue streams, key resources, key activities, key partners, and cost structure. Student will learn how to identify, create, and deliver value for existing and future customers, as well as extract value for a corporate venture in a sustainable manner. Fundamentals of new venture financing will be considered, such as capital structures for new ventures (e.g. debt vs. equity), term sheets and how to negotiate them, early-stage vs. later-stage financing. Cannabis-specific business model implications will be explored in depth as well. This include trademarks and IP, marketing and branding, multi-state operators (MSOs) vs. standalone businesses, challenges and benefits of vertical integration, costs for licensing and compliance, and rules and regulations regarding plant-touching vs. ancillary business. Students will also learn about the most challenging financial hurdles for plant-touching cannabis entrepreneurs and operators: banking (given that most national institutions are not willing to support due to federal illegality) and IRS 280E Tax Code (no deductions or credits are allowed due to federally controlled substance).