Finance Small Enterprise (SC)
The course will examine a range of business types from small manufacturing companies to emerging growth technology companies to service companies and will examine the differences between the different categories from a financing perspective including the differences between pre-revenue and post-revenue companies in each category. There will be particular emphasis on the different financial options available to each category of business at different stages in its life cycle including bank loans, commercial finance and factoring, leasing, commercial mortgages, angel equity financing and venture capital and the terms that normally are associated with these different types of financing. This examination of financing options will include an analysis of the risk associated with different financing options and an analysis of how different financing options can be connected in an overall financing strategy. In addition, the course will cover the valuation of businesses for financing purposes and the different types of valuation techniques.
The course will provide an introduction to this area through the eyes of a law school graduate who has been active in financing small businesses for 35 years as a banker, entrepreneur and most recently as the manager of a well-established angel group based in Charlottesville, Virginia with members throughout Virginia and the U.S. The course will include case study exercises designed to introduce students, working in teams, to the issues facing senior management of small companies as they seek to raise financing at various stages of their company life cycle. Guest lecturers will play an important role in this class and will provide students with a real-world perspective on the reality of entrepreneurs trying to finance their small businesses. During the course, guests will include both lawyers practicing in various areas of small business finance and law school graduates who, as small business CEOs, have successfully raised capital through a range of financing types.
*Yes means professor requires everyone in the course to submit a substantial research paper (which is the requirement standard in Academic Policies), so no paperwork required to be submitted to SRO. No means student must timely submit paperwork to SRO if intending to use a paper in this course to satisfy the Writing Requirement.
**Yes indicates course credits count towards UVA Law’s Prof. Skills graduation requirement, not necessarily a skills requirements for any particular state bar.