TCC 2018 Praveen Kosuri Practice Professor of Law amp Director Entrepreneurship Legal Clinic Law School University of Pennsylvania PKosurilawupennedu 2158988071 Bernice Grant Senior Director ID: 782171
Download The PPT/PDF document "The Role of Law in Entrepreneurship Educ..." is the property of its rightful owner. Permission is granted to download and print the materials on this web site for personal, non-commercial use only, and to display it on your personal computer provided you do not modify the materials and that you retain all copyright notices contained in the materials. By downloading content from our website, you accept the terms of this agreement.
Slide1
The Role of Law in Entrepreneurship EducationTCC 2018
Praveen
Kosuri
Practice Professor of Law & Director
Entrepreneurship Legal Clinic
Law School
University of Pennsylvania
PKosuri@law.upenn.edu
215.898.8071
Bernice Grant
Senior Director
Entrepreneurial Law Program
School of Law
Fordham
University
bgrant18@law.fordham.edu
646.312.8289
Jeff Thomas
Chairperson
Entrepreneurship
Department
College of Business
Central Michigan University
Jeff.Thomas@cmich.edu
989.774.1213
David
Nows
Adjunct Faculty
Entrepreneurship
Department
College of Business
Central Michigan University
nows1ds@cmich.edu
810.923.7372
Bruce Marble
Executive Director
Entrepreneurship
Institute
College of Business
Central Michigan University
Bruce.Marble@cmich.edu
989.774.3270
Slide2The Role of Law in Entrepreneurship EducationToday’s AgendaCURRENT Role of Law in EE POTENTIAL for a More Significant RoleBARRIERS to More Law in EEWHERE TO GO from here?Q & A
Slide3The Role of Law in Entrepreneurship EducationCURRENT RoleCourse Examples:Traditional Law School Courses (e.g., Contracts, Business Organizations, Securities Law, Taxation, Intellectual Property, Employment Law)Newer Law School Courses (e.g., Venture Capital & Private Equity, Entrepreneurship Law Seminar) Business School & Engineering School Courses (e.g., Business Law, Entrepreneurship Law)
Slide4The Role of Law in Entrepreneurship EducationCURRENT RoleExperiential Learning, Law School Examples:Entrepreneurship Law ClinicsStartup LawMeetsPracticums
Slide5The Role of Law in Entrepreneurship EducationCURRENT RoleExperiential Learning, Non-Law School Examples:Pitch competitionsAccelerator programsConsulting projectsLegal issues that often come up and current solutions
Slide6The Role of Law in Entrepreneurship EducationCURRENT RoleExamples of Law-Heavy Programs:Duke’s LLM in in Law & EntrepreneurshipCornell’s LLM in Law Technology & EntrepreneurshipColorado’s Entrepreneurship Law CertificateNorthwestern’s Master of Science in LawASU’s Master of Legal Studies, Entrepreneurship Law & StrategyCMU’s Master of Entrepreneurial Transactions
Slide7The Role of Law in Entrepreneurship EducationCURRENT RoleExamples of Law-Heavy Research Domains:New venture creationEntrepreneurial financeNegotiation and structuringHarvesting and exit strategiesFranchisingSocial entrepreneurshipSOURCE: Michael Morris, Donald Kuratko & Jeffrey Cornwall, Entrepreneurship Programs and the Modern University xi-xii (2013
).
There are also target academic journals (e.g
., the Journal of Business, Entrepreneurship and the
Law,
the Transactions: The Tennessee Journal of Business
Law,
the Business, Entrepreneurship & Tax Law
Review,
and the Michigan Business & Entrepreneurial Law Review)
and conferences/interest groups
(e.g.,
TCC, LEA,
and USASBE
).
Slide8The Role of Law in Entrepreneurship Educationpotential for More SignificanceAccording to Kuratko and Morris: [o]ver these past four decades, entrepreneurship has grown within universities faster than virtually any other area of intellectual pursuit. And it appears that the pace is accelerating with more universities seeking to develop programs and centers focused on entrepreneurship.SOURCE: Donald Kuratko & Michael Morris, Examining the Future Trajectory of Entrepreneurship. 56(1) Journal of Small Business Management 11, 13 (2018)
Slide9The Role of Law in Entrepreneurship Educationpotential for More SignificanceEE also craves the experiential learning, rigor, structure, and comprehensive framework that more law coverage would stimulate:Pedagogy has tended to be preoccupied with teaching business planning…[c]ourses in entrepreneurship have been expanded with no real curriculum model in mind, resulting in significant overlap in topical coverage together with holes in coverage of key topics…avoid the disjoined and somewhat hodgepodge approach that has typified the development of many entrepreneurship programs…we advocate a more strategic and integrative framework for building the curricular, co-curricular, research, community engagement and infrastructure components of a program. Source: Michael Morris, Donald Kuratko & Jeffrey Cornwall, Entrepreneurship Programs and the Modern University xi-xii (2013).
Slide10The Role of Law in Entrepreneurship Educationpotential for More SignificanceFor example, covering more legal issues would empower students to learn more about:Forming businessesHiring and compensating employeesContracting with clientsIssuing stock, debt and other securitiesProtecting intellectual property Negotiating strategic partnershipsBuying and selling firms
Slide11The Role of Law in Entrepreneurship Educationpotential for More SignificanceBy covering these transactions in more depth:Students develop valuable knowledge and skillsExperiential learning opportunities are increasedPragmatic research is inspired Programs have a logical comprehensive framework (idea to exit) Resources can be developed for courses and to carryout transactions (e.g., Cooley GO-like platform)Know-how and tool can be leveraged beyond campus
(
e.g.,
broader community can use resources for transactions)
Fund raising opportunities may be created
(e.g
.,
convert idle potential donors
into
engaged campus
startup investors
)
Slide12The Role of Law in Entrepreneurship EducationBARRIERS to More Law in EEAccreditation Issues:ABA Standards focus on educating future attorneys and favor fulltime academicsAACSB Standards encourage business schools to value faculty who are “Scholarly Academics” (e.g., PhDs who focus mostly on research) more than Practice Academics, Scholarly Practitioners, or Instructional Practitioners.
Slide13The Role of Law in Entrepreneurship EducationBARRIERS to More Law in EEPerception Issues:Practical education should not be viewed as inferior (e.g., law firms want practice-ready graduates and EE seeks more experiential learning) Practice-focused faculty should not be automatically compensated less than tenure-track facultyBusiness programs must get comfortable hiring attorneys to teach more subjects (e.g., entrepreneurial finance)Law schools should welcome more entrepreneurship students seeking legal knowledge and skills – but not careers as attorneys
Slide14The Role of Law in Entrepreneurship EducationBARRIERS to More Law in EESILO Issues:JD/MBA Programs Exist; However…Turf Wars (e.g., business schools may not want law schools to poach their entrepreneurship students and traditional business faculty may not like it when attorneys teach their courses)If silos cannot be torn down, it may be necessary to build new ones
(e.g., schools
or colleges of entrepreneurship with law-heavy
DNA)
Building a new type of faculty may also be necessary
Slide15The Role of Law in Entrepreneurship EducationWHERE TO GO from here?
Slide16The Role of Law in Entrepreneurship EducationWHERE TO GO from here?Build a NewType of Faculty?
Slide17The Role of Law in Entrepreneurship EducationWHERE TO GO from here?Law-Heavy DBA in Entrepreneurship?InputsProgramOutputs
Startup Attorneys
Serial Entrepreneurs
Early Stage Investors
Experienced CPAs
Other Entrepreneurial Intermediaries
Coursework
Understand
Resources
Practice Teaching ENT
Comprehensive Exams
Learn About Research
Conduct Applied Research
Engage in Entrepreneurship
Hybrid Format
Practice-Focused ENT Faculty
Work at Centers
Tech Transfer Offices
Incubators
Applied Researchers
Consultants
Other Positions
See also: Information about Florida’s
AACSB Post-Doctoral Bridge program (available @ http://
www.aacsb.edu/events/bridgetobusiness/florida).
Slide18The Role of Law in Entrepreneurship Education
Q & A
Praveen
Kosuri
Practice Professor of Law & Director
Entrepreneurship Legal Clinic
Law School
University of Pennsylvania
PKosuri@law.upenn.edu
215.898.8071
Bernice Grant
Senior Director
Entrepreneurial Law Program
School of Law
Fordham
University
bgrant18@law.fordham.edu
646.312.8289
Jeff Thomas
Chairperson
Entrepreneurship
Department
College of Business
Central Michigan University
Jeff.Thomas@cmich.edu
989.774.1213
David
Nows
Adjunct Faculty
Entrepreneurship
Department
College of Business
Central Michigan University
nows1ds@cmich.edu
810.923.7372
Bruce Marble
Executive Director
Entrepreneurship
Institute
College of Business
Central Michigan University
Bruce.Marble@cmich.edu
989.774.3270