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DALLAS, Texas (SMU) - SMU's Cox School of Business will offer a new course directed to MBA students interested in entrepreneurial ventures. "Essential Law for the Entrepreneur" is one of the few courses offered in the country that specifically addresses the legal knowledge entrepreneurs need in starting a business, from creating contracts and establishing corporate entities to raising capital and defining intellectual property. This course is an addition to the already extensive offerings open to MBAs, BBAs, and the general public through the Cox School's Caruth Institute. The Caruth Institute of Owner-Managed Business is the Cox School's entrepreneurship center.

Over the years, Jerry White, director of the institute, has received questions from entrepreneurs regarding legally oriented business decisions including incorporation, funding issues, corporate governance, and even hiring policies. As a result of these ongoing requests for information, "Essential Law for the Entrepreneur" was born. The course addresses these basic issues and many more in an effort to prepare future business owners for the general legalities of running a business. The goal of the course is to allow budding business leaders to make more effective use of attorneys, maximizing profits while minimizing exposure to liabilities.

"We're doing something uncommon," said Barbara Kincaid, an attorney and member of the Cox faculty who teaches the course. "It's going to be stellar. This course is value-added to the MBA program."

"Essential Law for the Entrepreneur" will include situational examples, many of which will come from guest speakers, including general counsel attorneys from major law firms, attorneys from smaller firms who specialize in start-up companies, and a speaker from the Justice Department. Students will also be required to write a legal plan, applying course work to their start-up concepts and creating a narrative detailing how an attorney should be used to benefit the company.

The Caruth Institute focuses on both the entrepreneurial and managerial aspects of starting and growing a business. More than 10,000 students of all ages have taken courses at the institute since its founding in 1975.