Entrepreneurial Business PracticumThis practicum will explore the lawyer's role in representing entrepreneurial businesses. The class will examine the lawyer's ability to shape and enhance the entrepreneurial business and will develop strategies that can be used to guide the business through both success and failure. The course will also address ethical and conflict of interest issues that may arise from counsel's participation in the business. We will survey many of the legal questions relating to entrepreneurial start-ups, including strategies for structuring a business organization, procuring financing, determining methods of compensation and managing risk. We will also discuss entrepreneurial businesses in "midlife" stages with a focus on corporate governance, management issues and exit strategies. The course will feature several guest speakers who have been active in financing, operating and/or advising entrepreneurial businesses.Students will participate in two hypothetical case studies. Each student will act as the entrepreneur in one case study and as the advising attorney in the other. Working in teams, the entrepreneurs and their attorneys will make business decisions, devise strategies and prepare documents for one hypothetical case involving a start-up company and a second case involving a more mature entrepreneurial enterprise. The course is appropriate for those who may represent entrepreneurial businesses and for those considering the creation of or participation in an entrepreneurial business.
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