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The Role of Law in Entrepreneurship Education The Role of Law in Entrepreneurship Education

The Role of Law in Entrepreneurship Education - PowerPoint Presentation

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The Role of Law in Entrepreneurship Education - PPT Presentation

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

entrepreneurship law business role law entrepreneurship role business amp university school faculty programs practice michigan college central cmich director

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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

Slide2

The 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

Slide3

The 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)

Slide4

The Role of Law in Entrepreneurship EducationCURRENT RoleExperiential Learning, Law School Examples:Entrepreneurship Law ClinicsStartup LawMeetsPracticums

Slide5

The Role of Law in Entrepreneurship EducationCURRENT RoleExperiential Learning, Non-Law School Examples:Pitch competitionsAccelerator programsConsulting projectsLegal issues that often come up and current solutions

Slide6

The 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

Slide7

The 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

).

Slide8

The 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)

Slide9

The 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).

Slide10

The 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

Slide11

The 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

)

Slide12

The 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.

Slide13

The 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

Slide14

The 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

Slide15

The Role of Law in Entrepreneurship EducationWHERE TO GO from here?

Slide16

The Role of Law in Entrepreneurship EducationWHERE TO GO from here?Build a NewType of Faculty?

Slide17

The 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).

Slide18

The 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