The Law Matters in the Business World

This past Friday, I had the opportunity to meet with Melanie McMenamin and law students to learn that the law matters in the entrepreneurial world. Melanie McMenamin spoke about legal issues with startups. She is a graduate from Georgetown’s business school and the Penn Law School. Now, she is the director of Villanova’s Clinic for Law and Entrepreneurship. During the session, two law students gave a presentation on contracts and how important they are. Each contract has a boilerplate, it is a common feature in contracts. Under the boilerplate terms, there are the choice of venue, choice of law, modification and confidentiality agreements. In the entrepreneurial world, every contract matters because you need to know what you are agreeing to and if you don’t know what something means, it is important to look it up. We also learned that business terms + legal terms equals the price of the contract. In my team’s venture, WildCatcakes, we are eventually going to make a contract with dining services in order to get our cupcakes made on campus. This session with the Villanova law students and Melanie really helped with that because we learned what a contract consists of and how it works. I really enjoyed our session in the law school and it helped with the WildCatcake venture.