Comments on: Private Equity Law Textbook? Desperately Seeking …

By: SLS grad

SLS grad — Mon, 09 Nov 2009 23:00:50 +0000

Have you spoken to Joe Grundfest regarding his venture capital materials? He taught a great course.

By: CBiz

CBiz — Mon, 09 Nov 2009 19:50:57 +0000

If you really are doing an introductory course, I’d second taking a look at Bagley & Dauchy.

I know Karl Lutz from K&E used to teach a series of hands-on PE/VC classes at Michigan using Levin and his own primary deal documents. You might reach out to him, if only to ask him to finally write a textbook/workbook combo.

By: WCollins

WCollins — Mon, 09 Nov 2009 13:53:08 +0000

I took a PE/VC seminar this past spring. The instructor was a corporate law partner and used a hodge-podge of materials. We read some Delaware opinions such as the Hexion case as well as selected chapters from Constance Bagley’s The Entrepreneur’s Guide to Business Law. We also did some assignments such as putting together a cap table and analyzing the practical effects of contractual provisions, i.e. to what extent the language in a pay-for-play provision was pro-investor or pro-company. We ended the semester by putting together a term sheet and writing a 25-pager on a topic we selected ourselves.
It was the instructor’s first time teaching the course, and I do not know what aspects he plans on changing. I do remember him lamenting the lack of a quality text book for the topic, though.

By: Todd K

Todd K — Mon, 09 Nov 2009 13:47:59 +0000

Yes I agree with PE investor get Levins book on Venture Capital.

By: Kenneth Anderson

Kenneth Anderson — Mon, 09 Nov 2009 13:43:30 +0000

Everyone – these are helpful thoughts, and I will try to get back to address some of the larger questions raised re what you try to teach in a basic level jd course and why. Thanks!

By: U of C 3L

U of C 3L — Mon, 09 Nov 2009 12:06:52 +0000

Levin teaches the class at Chicago and he offers the set of books at a steep discount for the students in the course so you might want to reach out to him and see if he’d be willing to do the same for you. (I think the entire set is offered for ~$100)

By: PEInvestor

PEInvestor — Mon, 09 Nov 2009 09:47:02 +0000

This was the book that was handed to me on my first day as a PE investor. But I'm not a lawyer, so I don't know how relevant it would be for law students (or practicing lawyers). http://www.kirkland.com/sitecontent.cfm?contentID=223&itemId=2226

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By: A.S.

A.S. — Mon, 09 Nov 2009 06:25:48 +0000

Not that I would likely have any advice on a potential textbook anyway, but it might help if you said something about what you plan to teach in the class – or perhaps link to a syllabus. I practice in the area (corporate partner at an AmLaw100 firm), and truly have no idea what a law school class would teach. I mean, if you are not going to teach things a practicing lawyer might want to learn – say, the ins and outs of drafting a Certificate of Designations for participating preferred stock or how a partnership agreement would provide for the carried interest – then what?

By: Kenneth Anderson

Kenneth Anderson — Mon, 09 Nov 2009 04:10:21 +0000

Mark N: thanks – it’s a great book but too expensive for my students alas.

By: Mark N.

Mark N. — Mon, 09 Nov 2009 03:50:36 +0000

This isn't a law textbook either (sorry!), but Private Equity: History, Governance, and Operations, a finance textbook, has a good deal of law content, depending on what aspects of law you want to cover. It would probably be most useful if you're wanting to cover governance (auditing, due diligence, internal controls, securities regulation, etc.). It seems more relevant than Lerner's, anyway, although also more expensive and much lengthier.