Entrepreneurial Business PracticumThe course focuses on the lawyer's role as an advisor to entrepreneurial businesses and their owners. We will use case studies to examine a broad range of structural planning issues with emphasis on creative planning strategies and pitfalls. We will examine the various forms of entrepreneurial businesses, covering issues including co-ownership planning, enterprise funding, choice of entity, owner compensation, structuring profit and capital interests and exit and business transition planning. The course is designed to broaden the student's substantive knowledge of a broad range of legal issues affecting the entrepreneurial business and to help the student develop strategic planning skills as well as the ability to effectively communicate with the entrepreneurial business leader.During the first six weeks of the course, graduate level engineering students who are interested in pursuing entrepreneurial business ventures will participate in the class. During this period students will work in groups integrating the law and engineering students and we will cover the basic areas of ownership planning, choice of entity, enterprise funding, capital structure and compensation. During the second half of the semester the course will be limited to law students. During this portion of the class the issues covered will include the ethical challenges in representing an entrepreneurial business, a more in depth examination of the legal issues in capital formation and structure, drafting considerations and implementation mechanics. The course will also feature several guest speakers.Students will be required to make presentations to the class on case studies, identifying the challenges and potential solutions raised by the case. There will be several written assignments but no final exam.
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