Carolyn Elefant, who authors one of my favorite blogs, My Shingle, wrote an excellent piece discussing the potential advantages for law schools “investing” in their students’ start-ups and entrepreneurial endeavors:
If law schools want to teach students to take charge and be entrepreneurial, then they need to think entrepreneurially themselves. When law schools fund projects, they ought to focus on those that will result in creation of jobs for new grads. What that means is that law schools ought to be investing in solo and small firms started by their alumni.
The article, Why Don’t Law Schools Invest In Law Firm Start Ups?, is a great read and raises serious questions that have far-reaching implications for law schools and students alike. As a side note, I asked Ms. Elefant (via Twitter – @carolynelefant) whether law school investments may raise Rule 5.4 concerns. She is looking into this and I look forward to the results.
For an excellent example of a law school initiative encouraging students to think “entrepreneurially,” check out the ReInvent Law Laboratory.