1. The Role of Law in Entrepreneurship Education TCC 2018
Praveen Kosuri
Practice Professor of Law & Director
Entrepreneurship Legal Clinic
Law School
University of Pennsylvania
Bernice Grant
Senior Director Entrepreneurial Law Program
School of Law
Fordham University
Jeff Thomas
Chairperson
Entrepreneurship Department
College of Business
Central Michigan University
David Nows
Adjunct Faculty
Bruce Marble
Executive Director
Entrepreneurship Institute

2. The Role of Law in Entrepreneurship Education Today’s Agenda
CURRENT Role of Law in EE
POTENTIAL for a More Significant Role
BARRIERS to More Law in EE
WHERE TO GO from here?
Q & A

3. The Role of Law in Entrepreneurship Education CURRENT Role
Course 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)

4. The Role of Law in Entrepreneurship Education CURRENT Role
Experiential Learning, Law School Examples:
Entrepreneurship Law Clinics
Startup LawMeets
Practicums

5. The Role of Law in Entrepreneurship Education CURRENT Role
Experiential Learning, Non-Law School Examples:
Pitch competitions
Accelerator programs
Consulting projects
Legal issues that often come up and current solutions

6. The Role of Law in Entrepreneurship Education CURRENT Role
Examples of Law-Heavy Programs:
Duke’s LLM in in Law & Entrepreneurship
Cornell’s LLM in Law Technology & Entrepreneurship
Colorado’s Entrepreneurship Law Certificate
Northwestern’s Master of Science in Law
ASU’s Master of Legal Studies, Entrepreneurship Law & Strategy
CMU’s Master of Entrepreneurial Transactions

7. The Role of Law in Entrepreneurship Education CURRENT Role
Examples of Law-Heavy Research Domains:
New venture creation
Entrepreneurial finance
Negotiation and structuring
Harvesting and exit strategies
Franchising
Social entrepreneurship
SOURCE: 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).

8. The Role of Law in Entrepreneurship Education potential for More Significance
According 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)

9. The Role of Law in Entrepreneurship Education potential for More Significance
EE 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).

10. The Role of Law in Entrepreneurship Education potential for More Significance
For example, covering more legal issues would empower students to learn more about:
Forming businesses
Hiring and compensating employees
Contracting with clients
Issuing stock, debt and other securities
Protecting intellectual property
Negotiating strategic partnerships
Buying and selling firms

11. The Role of Law in Entrepreneurship Education potential for More Significance
By covering these transactions in more depth:
Students develop valuable knowledge and skills
Experiential learning opportunities are increased
Pragmatic 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)

12. Accreditation Issues:
The Role of Law in Entrepreneurship Education BARRIERS to More Law in EE
Accreditation Issues:
ABA Standards focus on educating future attorneys and favor fulltime academics
AACSB 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.

13. The Role of Law in Entrepreneurship Education BARRIERS to More Law in EE
Perception 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 faculty
Business 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

14. The Role of Law in Entrepreneurship Education BARRIERS to More Law in EE
SILO 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

15. The Role of Law in Entrepreneurship Education WHERE TO GO from here?

16. The Role of Law in Entrepreneurship Education WHERE TO GO from here?
Build a New Type of Faculty?
TRANSACTIONAL EXPERIENCE
PRACTICE-FOCUS
ENTRENEURSHIP BACKGROUND & RESEARCH
TERMINAL DEGREE

17. The Role of Law in Entrepreneurship Education WHERE TO GO from here?
Law-Heavy DBA in Entrepreneurship?
Inputs
Program
Outputs
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

18. The Role of Law in Entrepreneurship Education Q & A
Praveen Kosuri
Practice Professor of Law & Director
Entrepreneurship Legal Clinic
Law School
University of Pennsylvania
Bernice Grant
Senior Director Entrepreneurial Law Program
School of Law
Fordham University
Jeff Thomas
Chairperson
Entrepreneurship Department
College of Business
Central Michigan University
David Nows
Adjunct Faculty
Bruce Marble
Executive Director
Entrepreneurship Institute