Northwestern Pritzker School of Law’s Annual Entrepreneurship Law Conference is designed as a forum to explore various legal issues that entrepreneurs face when considering new ventures. The day-long event hosts a series of panels, a keynote speaker, and several networking opportunities for professionals that work at the intersection of law and entrepreneurship. This year’s conference focused on industries that, traditionally, haven’t been considered part of the part of the entrepreneurship world, but are now creating a lot of buzz in the local economy.
The day began with a panel on food entrepreneurship composed by Nate Cooper, Co-Founder & President at Wise Apple; Kim Dobbins, Founder at Simple Squares; Matt Galo, Partner at Schiff Hardin; Emily Groden, Legal Counsel at The Alinea Group and Tock; and Hope Morgenstern, Director of Communications at Farmer’s Fridge. The discussions touched on topics like the relationships between a business and its legal counsel, the challenges in marketing food-centered businesses and what early stage mistakes should be avoided. Food entrepreneurship is tricky because everyone is an expert on their own personal preferences and tastes, making it highly susceptible to criticism. “Figure out a concise clear message and what platforms you can use to leverage it,” advised Hope. “For us, it was important to create a grassroots following so we could humanize the fridge.”
The second panel was “Taking on Regulated Industries”, where Professor James Speta moderated a discussion on the legal issues in the cannabis, healthcare and medical device spaces with Charlie Bachtell, CEO and Co-Founder of Cresco Labs; Jonathan Gunn, CEO & Co-Founder of Briteseed; Anna Remis, Partner at Sidley Austin; and Laurie Tenzer, General Counsel at Shirley Ryan AbilityLab. Despite the fact that these industries sometimes deal with legal ambiguities, there are some advantages to working on a tightly regulated structure. “I see regulation not only as a path forward but as an opportunity for business,” said Charlie. “Anything that’s difficult presents an opportunity. If you can figure out how to do it better than the guy across the street, you have a clear business advantage.”
The conference ended with a keynote from Benjamin Hernandez (JD-MBA ’13), CEO of NuMat Technologies, who was presented with the Distinguished Entrepreneur Award. In a Q&A with his spouse Samara Mejia Hernandez, Senior Associate of MATH Venture Partners, Benjamin shared a few of the lessons he’s learned throughout his career:
- “You want to work with people who know thyself. People with extremely high-levels of self-awareness and authenticity. And you want to work with people who are doing it because they want to do something that matters.”
- “There’s no one model of what an entrepreneur is. If you’re committed to something, having the conviction to do it is what really sets you apart.”
- “Don’t ever buy into a narrative of what you should look like as an entrepreneur. When I think of the people I know who have been successful, the connective tissue between them is a sense of disquietude. They’re not ok with their life being on a conveyor belt. They’re also people that take an opportunity when they see it.”
