A student's perspective

When you entered law school, you probably didn't have entrepreneurial fever. Recurring news stories of failed start-ups shattered your dreams of retiring to the Caymans at the ripe age of 35. However, you may yet retain lingering hopes of starting your own company, or of being corporate counsel to Fortune 500s, or of seriously delving into business law. For that, a thorough dose of business experience would be most helpful. What exactly are the mysterious sparks that light the fires of successful entrepreneurs? Do they sign up for entrepreneurial boot camp run by pros, read how-to books, meet with high-level execs and write clever business plans?

Yes and the University of Oregon Law School has thoughtfully provided that exact experience through the Center for Law and Entrepreneurship. Law students join MBA students from the Lundquist College of Business to participate in the Technology Entrepreneurship Program (TEP).

However, while most entrepreneurs struggle for years with little more than a nebulous idea valued at near-zero, the TEP program provides several high-tech venture opportunities produced by some of the best minds in the Northwest. The program boasts close associations with the Battelle Institute (PNNL), the UO Tech Transfer Office, the UO Chemistry Department and numerous contacts in several major corporations. Who knew the Vice President of Columbia Sportswear would be interested in aiding our entrepreneurial endeavors? The TEP fellows' job is to take the technology and walk the well-worn path of the successful start-up: define a business concept, research the market, build a management team, convince investment folks of Google-like success, and sell our way to financial fame and fortune.

However, the path to success can be fraught with obstacles for young would-be law and business student entrepreneurs without expert guidance. The most valuable learning experience of the summer was the very personal and direct guidance of the advisory board. The board members consisted of business and legal gurus, including our own Barbara Aldave, with the experience and know-how to provide sound advice.

Mentorship inspired confidence, and all three teams came up with viable products that were pursued further through the MBA course New Venture Planning (MGMT 625.) After developing a comprehensive plan through this course, TEP teams then gain the chance to present their plans at business competitions throughout the U.S. At the competitions, judges and potential investors peruse a team's evolvement from idea into execution. The result of that is billions of dollars. Okay, maybe millions. Regardless of whether the fortune is ever achieved, the walk itself has been an incredible experience.

Sincerely,

Abner Chong
TEP Fellow 2004-05