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E
NTREPRENEUR, INVESTOR AND
business titan Kevin O’Leary—
also known as “Mr. Wonderful”
on ABC’s hit show Shark Tank—started
a software business in a basement
with a $10,000 loan and then sold it
to Mattel in a $3.65 billion deal. Today
he is worth more than $400 million.
In this exclusive interview with
COMMERCE, Kevin O’Leary discusses
why he became an entrepreneur; his
best investments; the principles he
applies to daily life and business; his
three “simple” rules for investing; his
thoughts on economic growth and job
creation; and the need to curb the gov-
ernment’s over-regulation of businesses
on the local, state and federal levels.
Unleashing the Inner Entrepreneur.
“I got my first job as an ice cream scoop-
er while in high school. I wanted the job
because the girl I was chasing worked
across the hall, and would be able to see
me. On my second day, the owner, who
was a woman, told me that I had to
scrape the gum out of the Mexican tiles.
I told her I couldn’t do that. I didn’t want
the girl across the hall seeing me doing
that. I was an ice cream scooper, not a
gum scraper. Well, she fired me. It was
a powerful moment in my life because
I realized that she had that control over
me because I was an employee. I vowed
that day that I would never work for
anyone again, and I never have.”
Best Shark Tank Investment. “The
highest IRR, and my very first royalty
deal, was with a Boston-based family
business called Wicked Good Cupcakes
[which sells decadent cupcakes in glass
jars]. I decided to fund it by creating
a commercial kitchen for them, but
not taking any equity. I did not want
a minority position in a family business
and wanted to come up with a royalty
deal. It’s amazing that you can take a
commodity, put it on Shark Tank, and
the platform is just so powerful with
10 million viewers per week, that even
a cupcake gets differentiated.”
Red Flags that Signal Risk. “People
keep coming up with consumer prod-
ucts, like hot sauce, for instance. Hot
sauce is a multi-billion dollar market,
but it has been around for decades.
It’s extremely difficult to get shelf
space. So they are not really bringing
new innovation into the market. I look
at it and say to myself that regardless
of the entrepreneurs, the chances of
success are limited at best because it’s
very hard to say that your hot sauce is
unique and proprietary when there
are thousands of other hot sauces.”
Spotting a Winner. “I prefer to invest
in the entrepreneurs who have failed at
one point because they understand that
business is extremely hard and that the
road is rocky and full of treachery. That
to me is far more interesting than some-
one who comes out and says, ‘I’ve never
done this before, but I have a great
idea.’ The chances of success are very
low because you learn from your mis-
takes and your failures. I love teams that
have had a long history of both success
and failure. Then, of course, I look at
the product and determine if I can cre-
ate a market where I do not have to
steal market share.”
Evaluating the Entrepreneur vs. the
Idea. “A great idea is a great idea. If I
feel that I am at risk because of the
entrepreneur, I structure a control deal,
and we agree to an execution plan.
If they can’t meet it, I will simply swap
them out. Great management is fungi-
ble. I have lots of entrepreneurs working
for me. If they do not deliver and can-
not meet certain targets, then you have
to realize the reality of the situation.
They retain their shares, but they need
to step out of the way of being man-
agers. I am constantly looking for better
managers in all of my businesses.”
BY SAMANTHA J. HENRY
CONTRIBUTING EDITOR
“Being an entrepreneur is all about achieving
personal freedom,” explains O’Leary.
“What you get with success is the
ability to do whatever you like, wherever
you like and whenever you like.”
COVER STORY: FREE ENTERPRISE
Empowering
Entrepreneurs:
A Conversation
with Shark Tank’s
“Mr. Wonderful,”
Kevin O’Leary
2. A Leadership Challenge. “It’s a compe-
tition. This ‘kumbaya’ or ‘save the baby
whale of the managers’ has to end.
The truth, in business, is there are win-
ners and losers. I do not have time for
losers. You need managers who under-
stand that they can pivot. They need to
know how to move and be flexible and
be very focused on delivering results
and figuring out what’s working and
what is not working.”
Data IDs the “Great” Entrepreneurs.
“In December of 2014, I had about 27
portfolio companies across Shark Tank
in private equity investments. The audi-
tor suggested to me to do a study across
the investments that were returning
capital and use that information in my
future investing. I thought that was a
great idea, so we did the study. What
I determined that I had not noticed
was that all of my returns (not some,
but all) were businesses owned or run
by women. I thought that was really
interesting.”
Women Deliver ROI. “What attributes
did women have in small cap/big cap
businesses that are showing such a
performance? When you think about
it, there’s an old adage that says: ‘If you
want something done, give it to a busy
mother.’ There is some truth to that. It
may be that time management skills are
really paramount in managing big cap
businesses. I am not trying to have a
gender debate, but the performance
really speaks for itself. I am very skewed
towards women entrepreneurs because
of the fact that their performance has
been absolutely spectacular.”
Different Approaches. “Women set
goals that are more achievable within
shorter timeframes. They are able
to delegate very well and set targets
for people. Think about the success
of Honeyfund. One of my rock star
CEOs, Sara Margulis, runs it. It’s the
number one site in America now that
provides gifting for honeymoons.
We are processing about $300 million
a year now. Tracey Noonan and her
daughter Dani, another set of women,
are running Wicked Good Cupcakes
and have done nothing but just contin-
ue to execute over the years. The results
speak for themselves. I look at those
performances, as well as many others,
and it’s clear that these are all different
sectors, different geographies, and just
completely different businesses. But the
one commonality is women ownership
or management. Clearly, we are not
utilizing women enough in corporate
America. It’s a huge mistake, and one
that I won’t make again.”
A Conservative Portfolio that Pays
Dividends. “I am the chairman of an
ETF company, O’Shares Investments,
which I created so that I can invest my
own capital and that of my family trust
in a way that I want. I am a very conser-
vative investor with my balanced capital.
I only invest in dividend-paying stocks
because over the last 40 years, more
than 70 percent of the market's returns
came from dividends, not capital appre-
ciation. I follow three rules of investing
that have saved me as an investor: never
put more than five percent of your port-
folio into any one name; never put any
more than 20 percent into one sector;
and never buy a stock that doesn't pay
a dividend.”
Unlocking Economic Growth and Job
Creation. “The problem we have now
is that we are overregulated on the city,
state, and federal levels. There is too
much regulation that is holding back
small business; 80 percent of the jobs
coming out of the typical recession in
the past have been in small business.
The regulations are insane. Our tax
rates are crazy and not competitive.
I am spending more money on lawyers
with just trying to comply with all of
the ridiculous regulations on small
business. So I am not employing people.
I am employing lawyers.”
Negotiation Tactics and Strategy.
“I teach my entrepreneurs to be
honest. You have to be able to tell them
the good and the bad about business
and service. Part of being a great sales-
man is knowing that honesty builds rela-
tionships. It does not mean you have to
be a weak negotiator. Great deals are
created when both sides feel they got
a tough deal. That means the value has
been created for both sides. The art of
negotiation is that you do not get what
you want, but you get what you negoti-
ate. It’s something you learn over time.
Great deals make both sides cringe.
That is what matters. I work with my
entrepreneurs on doing deals. I love
doing them. One great thing about
being a ‘Shark’ is that everyone returns
your calls. It’s just fantastic. I can open
doors for companies in ways I never
imagined.”
Following a Passion to Financial
Success. “I am passionate about wine.
I’ve been a wine collector for decades.
I have five cellars around the world.
I trade wine. I am a member of the
Confrérie des Chevaliers du Tastevin,
a secret wine society in Burgundy, but
not so secret anymore because I keep
telling people about it. If you look at
the wine industry, 97 percent of wine
sold in America is under $12.99 a bottle,
and most of it is absolute crap. And I
thought to myself, ‘Why does it have
to be crappy?’ So I decided to create
O’Leary Fine Wines. If I put my name
on it, it’s going to be spectacular
because I know how to make good
wine, blend good wine, and know what
good wine is. On QVC, we sold about
$500,000 worth of wine in four minutes,
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COVER STORY: FREE ENTERPRISE
3. and it’s also going into Costco, which is
the largest buyer of wine. I choose
my partners very carefully.”
Being Called Mr. Wonderful. “We
think it started when some other
‘Shark’ was being facetious about
one of my aggressive offers. I show
up at places now, and people do not
even call me by name. They just call
me ‘Mr. Wonderful.’ There is a certain
sanity to it because it’s true. I am the
only ‘Shark’ who tells the truth, and
that’s just wonderful!”
***
Editor’s Note: COMMERCE asked the
following New Jersey accounting firms,
banks and law firms to offer their best
practices for entrepreneurs, and share
a success story that shows how they
helped a client company to thrive
and grow.
ACCOUNTING
Citrin Cooperman
By Salvatore L. Reda, CPA,
Partner
Investing time and effort
into startups may be seen
as risky business, requiring a lot of time
and hands-on attention, but the payoff
can be truly rewarding when your
investment results in a break-out success
story. Several years ago, a European toy
maker came to us asking for help in
starting a U.S. business. Initially we set
up a cloud-based accounting system so
that we can monitor their activities in
real time, and advise them as needed.
We also got them purchase order financ-
ing and set up their inventory control
system to track their expanding invento-
ry. Because startups often have a hard
time getting financing, we helped them
get second-tier financing through
accounts receivable factoring. Factoring
is a transaction in which a business sells
its accounts receivable to a third party,
also known as a “factor,” so that it can
receive cash more quickly than it would
by waiting for a customer payment.
Citrin Cooperman treats every client’s
concern as a priority matter; no question
or issue is too small. In the initial year of
operations, revenues were approximate-
ly $50,000. Six years later, the firm is a
multi-million dollar novelty toys maker
and in the process of expanding.
CohnReznick LLP
By Steven Schinella, CPA,
Co-Office Managing
Partner, Roseland
Entrepreneurs work tire-
lessly on their ideas and how to bring
their visions to reality. However, that
often means that they may be less
focused on the policies and procedures
needed to ensure compliance with regu-
latory requirements, whether it’s with
taxing authorities, labor departments,
and/or their respective funding agree-
ments. That’s where we come in. We
recognize that the decisions made in
the early stages of a company’s life cycle
could have major financial impact on its
owners and investors in the future. For
example, a digital media client initially
came to CohnReznick in need of some
simple tax advice relating to the most
advantageous tax structure for a new
venture. After discussing the business,
where the owner saw the company
going, and what his ultimate goal was
for the company, we devised a structure
that would best benefit him (and his
partners) when they ultimately sold
to an outside investor. The work didn’t
stop there; we continued to provide tax
consulting services as the company grew
and expanded. Years later, this cus-
tomized approach enabled the individ-
ual to negotiate a lucrative deal with
a strategic investor without any unfore-
seen tax obligations—a true win-win.
David Wiener and Company
LLC, an affiliate of
EisnerAmper LLP
By Carey C. Gertler, CPA,
CFP, Member
Entrepreneurs are the people with the
ideas and drive to change the way cer-
tain products or processes are viewed,
or to introduce opportunities to the
public. The professionals of EisnerAmper
use their real-world acumen, passion
and intensity to provide significant and
objective guidance to these clients. Our
Private Business Services group is able to
uniquely service entrepreneurs because
the group draws from a centralized pool
of talent to provide advice and services
to all aspects of a closely held business.
An example of our expertise and experi-
ence in helping a client: Two highly tal-
ented and motivated individuals started
their own marketing communications
business. These entrepreneurs needed
CPAs who were able to provide them
with industry-specific financial advice,
such as how to organize their account-
ing and reporting and analyze their
firm’s financial statements. We demon-
strated the importance of these financial
records, and how to apply best practices
to gain more knowledge from the infor-
mation. They previously thought of their
financial statements as a requirement to
prepare their income tax returns. Now,
they use them as a tool to effectively
make real-time decisions on matters
such as profitability and staffing needs,
as well as a resource to proactively
address concerns within their growing
organization.
Deloitte & Touche LLP
By Skip Braun, CPA, Partner
Whether you are a first-
time entrepreneur or a seri-
al entrepreneur, a profes-
sional services organization can be a
valuable resource as you grow your
startup venture into a sustainable busi-
ness. A professional services organiza-
tion, such as Deloitte, often has many
partners and professionals that are dedi-
cated to serving entrepreneurs. Deloitte
is proud to have the reputation, experi-
ence and knowledge to effectively serve
entrepreneurs. For example, Deloitte
professionals have presented and pub-
lished the “12 Magic Slides” to securing
venture capital investment, which can
be tailored to guide and assist entrepre-
neurs in fundraising. Professional servic-
es organizations also often have a deep
industry knowledge base to help as you
set your strategy. Professional services
organizations like Deloitte work to
understand the facts and alternatives
of the business issue you are facing and
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COVER STORY: FREE ENTERPRISE
4. can provide objective reactions and
suggestions. They may also make intro-
ductions to other professionals who
have experience with the applicable
issue, such as investors, bankers, attor-
neys, insurance brokers, industry
experts, potential buyers of your prod-
uct or service, or other entrepreneurs.
A professional services organization can
open up its network for your benefit.
Friedman LLP
By Brian Kristiansen, CPA,
Partner
Sitting down with clients
early, especially entrepre-
neurs, allows a business advisor to pro-
vide expertise to help put a startup on
the right track. Embarking on a journey
as an entrepreneur can at first seem
daunting; however, there are planning
steps that can be taken at the outset to
set you up for success. A few years ago,
one of my clients came to me with his
vision to bring the family secrets and
traditions of their Italian ancestors to
America in the form of a specialty retail
store, cooking school and wholesale
distributor. The success was planted at
the outset of our relationship when we
sat together to discuss important deci-
sions such as ownership, vendor selec-
tion and tax efficiencies, which all pre-
sented potential obstacles that could
hinder success. We then explored each
potential risk scenario and planned out
the precautionary steps to ensure he
was set up for success from day one.
Oftentimes, entrepreneurs will get start-
ed without the proper planning, and
this can lead to shortfalls later on down
the road. Because our client planned
well from the very beginning, and trust-
ed our advice as his accountant, he is
now changing America, one Italian
dinner at a time.
Hunter Group CPA LLC
By Kevin J. Hansen, CPA,
Co-Managing Director
We had a tax client who
was employed by a large
purveyor of frozen foods. He had a
hunch, a natural flair for sales and the
good fortune to become aware of a
product line that was being discontin-
ued due to poor sales. Seizing on the
opportunity, he acquired the rights to
produce these products and asked for
our help to assist him in building a com-
pany. It required many hours of sharing
our expertise in the first few years—far
beyond simply creating the accounting
and tax compliance needed—but we did
manage to help him build an organiza-
tion from scratch. Re-positioning and
rebranding for the diet- and health-con-
scious consumer, he transformed a cou-
ple of dying products into a multi-mil-
lion-dollar market leader. Along the
way, Hunter professionals have been
in close contact—advising on banking
needs, real estate and leasing decisions,
as well as financial systems, strategic hir-
ing and management compensation.
We periodically met with his legal coun-
sel, bankers and management team to
provide our perspective on the compa-
ny’s forward-leaning business decisions.
Retired now, his company was recently
sold at a generous premium to a large
international consumer products compa-
ny. He and his family continue to be per-
sonal clients of the firm.
Marcum LLP
By Dane E. Dickler, CPA,
Partner, Tax & Business
Services Leader, NY/NJ
Business Enterprise
Services Group
Understandably, entrepreneurs are
more focused on implementing an idea
and growing their business in the initial
years, but neglect their accounting and
tax filing responsibilities. Often, we are
hired to correct some of those previous-
ly made mistakes. In one case, we
advised a startup company that sold
computer software, with sales represen-
tatives in several states. They were
unaware they had a nexus in many
states and were therefore required to
file franchise tax returns and sales and
use tax returns. On their behalf, we
filed voluntary disclosure applications
to bring them into compliance in states
in which they were delinquent. As they
hired new sales representatives in addi-
tional states, we registered them, as
applicable. The company continued to
grow and was recently sold to a public
company. Now we work with the parent
company. We often help our clients cor-
rect past mistakes with respect to their
tax filings, or change the structure of
their entity by converting them from a
partnership to a corporation or vice
versa. We also advise them on their vari-
ous state tax filing requirements and
register them as needed and apply for
all applicable federal and state tax cred-
its or other incentives.
Sobel & Co., LLC
By Glenn Taylor, CPA,
Member in Charge of the
Core Services Group
Our client is an entrepre-
neur—a bold person with passion. From
day one she wanted to be a problem
solver, not an order taker. But she was
new to the corporate world. We helped
her lay the foundation, starting with
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COVER STORY: FREE ENTERPRISE
5. installing the appropriate software to
consistently have an accurate picture of
her financial health while reviewing key
performance indicators. We emphasized
the importance of a strong team of
employees who would convert customers
to raving fans while embracing her core
values. While the industry is constantly
undergoing significant changes, as a risk-
taker she knew the keys to success includ-
ed being resilient and flexible. Along
with suggestions on financial issues and
other areas of concern, we also talked
about her mission. We supported her
vision to seek new ways to add value
for her clients and offer solutions to
meet their needs. As a startup, she had
been concerned about keeping the
lights on, but as the business matured
she turned to us for more sophisticated
guidance, including decisions on whether
or not to buy her building versus renting
space, managing cash flow and crafting
tax strategies. We have provided objec-
tive insights on many issues, allowing her
to focus on what’s essential—delivering
great customer service and nurturing
loyal employees.
WeiserMazars LLP
By Joseph D’Avella, CPA,
Partner
Our firm was recently
approached to help a physi-
cian get his practice off the ground. We
were to provide guidance in selecting
the type of entity to be formed, regis-
tering the entity selected with the IRS
and the State of New Jersey, obtain
financing for the equipment and office
fit-up, refer the client to an insurance
broker to make sure the proper cover-
age was obtained, perform payroll set-
up, retirement plan set-up, assist with
selection of accounting software and
be available to answer general business
questions. There are many hours needed
up front to make sure that a practice
starts out on the right foot. It is two
years later and the practice is thriving
and has added a second physician, for
which we helped negotiate the terms
of admission and the shareholders
agreement. This has all led to a very
easy transition for the physician.
WithumSmith+Brown, PC
By Jim Bourke, CPA, CITP,
CFF, CGMA, Shareholder,
Technology Niche Practice
Leader
In our technology niche practice, we
are fortunate that we have the opportu-
nity to work with a significant number
of young entrepreneurs. Entrepreneurs
in the tech sector are generally very
driven and focused individuals with a
passion. We understand that decisions
made early in the startup’s lifecycle can
make or break the business model. That
is why we spend a significant amount of
time in guiding these entrepreneurs dur-
ing startup, paying critical attention to
entity selection, income and payroll tax
compliance and financial reporting to
help insure the continued success of the
business. During the business lifecycle,
the CPA also plays a critical role in help-
ing to guide the entrepreneur as they
encounter unexpected obstacles and
bumps along the way. And then on
exit, like our client Yashi that was sold
for $33 million, we play a critical role in
helping the entrepreneur to negotiate
and understand all of the terms, condi-
tions and tax ramifications encountered
during the sale process. The bottom line
is that great entrepreneurs will surround
themselves with great professionals
and the outside CPA is a critical part
of that team.
BANKING
Columbia Bank
By James C. Howard, VP,
SBA Lending
One important way that
Columbia Bank helps entre-
preneurs bring their ideas to fruition is
through our Small Business Administra-
tion (SBA) lending efforts. Unlike many
banks, Columbia is unique because it
operates a local department strictly
dedicated to New Jersey Small Business
Administration (SBA) lending. Having
earned the prestigious “Preferred” and
“Express” SBA designations, Columbia
can issue government-backed loans and
credit lines to qualified small businesses,
both new and established. Our SBA term
loans and credit lines provide qualified
businesses with fast approvals and quick
access to needed funds. These loans can
be used for working capital, equipment,
inventory and the construction/purchase
of commercial property. Columbia also
provides financing under the SBA’s
504 Loan Program, an economic devel-
opment tool that supports small busi-
ness growth and helps communities
through business expansion and job
creation. Columbia was recently award-
ed a Bronze Award by the United States
Small Business Administration for
generating 39 local SBA loans in excess
of $10,000,000. One recent loan helped
a small business obtain working capital
to support new contracts, resulting
in significant customer base growth.
To qualify for an SBA Loan, you must
be an independently owned and operat-
ed for-profit business that is unable
to obtain private financing on reason-
able terms.
Valley National Bank
By Steven Vitale, First Vice
President, Commercial
Banking Group, Team
Leader
At Valley National Bank, we under-
stand that if an entrepreneur is not
committed to his business, it will fail
regardless of what the financials reflect.
For example, we have a client who
purchased a business which was experi-
encing some challenges. Although the
numbers didn’t reflect it, the entrepre-
neur knew he could grow this startup
business substantially in a few years.
He needed a bank that would partner
with him and take the time to under-
stand both his vision and game plan.
Valley was able to approve a working
capital line of credit to help support
his projected sales growth. We were
able to do this because we took the
time to get to know the entrepreneur,
who is the engine behind this business.
Since we initiated that relationship, our
client was named by a New Jersey-based
publication as one of the fastest grow-
ing companies in New Jersey, three
years in a row.
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6. Wells Fargo & Co.
By Lou Gallo, Senior
Vice President
When we met Irfan and
Aarti Raja, they were inter-
ested in opening a Wax the City fran-
chise location in Montclair, New Jersey.
Our bankers took the time to get to
know Irfan and Aarti, learning about
their short- and long-term goals holisti-
cally, and making the best recommenda-
tions possible as they considered loca-
tion options for their franchise. Like
many entrepreneurs, Irfan and Aarti
needed startup capital for their business.
Our bankers got to work by helping
them secure the right SBA startup loan
for their needs. We then helped Irfan
and Aarti set up a business checking
account for their Wax the City franchise
and helped them sort through the vari-
ous merchant service and payroll tools
they needed in order to run efficiently.
Thanks to our collaboration and the
right financing, Wax the City Montclair
is ready for business. As their bankers,
we are here for Irfan, Aarti and Wax the
City through every phase of the business
life cycle.
LAW
Buchanan Ingersoll & Rooney
By John Goldsmith, Esq.,
Shareholder
Our firm has worked
with emerging growth
companies for many years, so we under-
stand the mix of legal and business
challenges they often encounter.
Experienced legal counsel can help a
young company set the stage for future
growth and position them to withstand
the rigors of due diligence by profes-
sional investors and potential acquirers.
Since startups often lack the financial
resources for experienced professional
advice, we developed a suite of “critical
path” legal services to get them off to a
solid start without straining their initial
resources. It is a shared risk arrangement
that provides emerging clients with cost
predictability and flexibility without
straining their initial resources. Recently,
a company that we represented since
the student founders formed it had
a very successful exit. We worked with
this client for nearly 15 years, through
all of its growth pains and multiple
rounds of financing. And, after a year-
long courtship with the acquirer, the
deal closed under a significantly com-
pressed time-frame. It was intense.
But in the end, our client was thrilled,
and it was tremendously gratifying for
our Buchanan team who was alongside
the client each step of the way.
Cole Schotz P.C.
By Jordan A. Fisch, Esq.,
Co-Chair, Corp. Dept.
As a commercial law firm
with offices in five states,
we are often presented with an oppor-
tunity to counsel entrepreneurial clients
with respect to new ventures. A typical
engagement begins with counseling the
client on which entity structure is best
suited for his current and future needs.
Once a structure is selected, we provide
assistance in the formation of that enti-
ty and the assembly of the paperwork
necessary to provide our client with the
proper legal foundation for their busi-
ness. Thereafter, we are consulted with
issues that include corporate, tax plan-
ning, real estate, environmental,
employment, litigation and restructuring
concerns. A client that we have coun-
seled for many years is an ingredients
and food products company. We have
been counsel to this client from the
inception of its business, guiding it
through incorporation and a corporate
reorganization and restructuring.
We have advised this client with respect
to matters covering a broad range of
issues, such as raising capital, debt
financings, expansion, employment mat-
ters, investor relations, manufacturing,
supply and distribution agreements, and
several strategic acquisitions. In addi-
tion, our representation has included
assisting with trademarking, licensing,
branding and other corporate matters.
Today, our client is a successful national
company for whom we act as a trusted
advisor and outside general counsel.
Connell Foley LLP
By John D. Cromie, Esq.,
Partner, Chair, Corporate &
Business Law Group
Connell Foley LLP’s corpo-
rate attorneys often counsel startup
entrepreneurial firms from formation
through growth and to a mature stage
of entity development. These types of
assignments represent the ideal and
most rewarding work for business attor-
neys. For example, several years ago,
Connell Foley was retained to represent
an entrepreneur who sought to form a
new consulting and advisory business
servicing the financial services industry.
We counseled the single-owner, limited
liability company through the formation
phase and addressed business advisory
issues as the business grew. Later, after
the entrepreneur had built a highly suc-
cessful business, we assisted in imple-
menting a succession plan that
addressed the owner’s estate planning
needs, as well as a phantom equity plan
that allowed for senior management
and employees of the firm to acquire
restricted equity in the closely held busi-
ness. This program provided the original
entrepreneur with liquidity, estate and
tax planning, a retention program to
recruit and retain high-level employees,
and succession planning. Business attor-
neys are fundamentally problem solvers.
The ability to counsel an entrepreneur
from inception through the various
phases of an entity’s life cycle is very
rewarding and allows counsel to per-
form an integral role for clients.
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COVER STORY: FREE ENTERPRISE
7. Day Pitney LLP
By Hank Nelson Massey, Esq.,
Partner
We represented a compa-
ny in the social media tar-
geted advertising space that we advised
from its initial startup as an LLC and
then when it became a corporation, in
order to receive preferred stock money
from a well-known VC fund. This com-
pany has also received accounts receiv-
able financing from Silicon Valley Bank
and further rounds of financing from
additional VC funds. We price our start-
up services competitively and are open
to alternative fee arrangements. We will
work on a fixed-fee basis for an initial
startup “package,” including entity for-
mation and proprietary information and
invention assignment agreements for
the founders. We can provide advice on
other intellectual property protections,
including patents and trademarks, and
on employment matters, including stock
options and employee handbooks.
Although most of our entrepreneur
clients are Internet technology-based,
we have assisted startup and early-stage
companies in pharmaceutical, publish-
ing, communications and many other
industries as well.
Dunn Lambert, LLC
By Geraldine E. Beers, Esq.,
Partner
In early 2011, I met with
new clients—Joe, his son
Joseph, and Angelo, Joseph’s childhood
friend. Angelo was employed as a chef,
but his dream was to open his own
restaurant. Joseph and Joe were so con-
fident in Angelo’s talent that when a
local restaurant was put up for sale,
they decided to purchase the property,
assets and liquor license for $1.6 million.
The transaction was complicated, and
the closing checklist required regular
review and updating. The seller owed
more to their many creditors than the
purchase price, and faced penalties for a
delayed closing. The buyer’s liquor
license application and inspections made
the July closing date impossible.
Fortunately, frequent and productive
communications with our clients
and the seller’s attorney enabled us
to resolve these issues. The four-hour
closing finally occurred on Aug. 31,
2011. The seller had to bring $845,000
to the closing. The weekend before,
Hurricane Irene flooded the township’s
municipal building, although the prop-
erty itself was spared. We had to esti-
mate the tax escrow, and were $1,400
short. The seller eventually made
good on the shortage. Despite these
challenges, Joseph and Joe believed
in Angelo and his talent, and for the
past four years, the restaurant has
been a resounding success.
Gibbons P.C.
By Michael J. Lubben, Esq.,
Director, Corporate Dept.
In 2010, we assisted a
client (Parabolic Perform-
ance & Rehabilitation) looking to start
a sports physical therapy and perform-
ance training business. The legal needs
of a startup are varied and numerous.
Intellectual property must be protected,
capital arranged, space obtained, equip-
ment leased, employees hired and the
structure of the business determined.
We formed an LLC for Parabolic and
assisted with protecting its name and
logo, securing financing, leasing and
outfitting a facility, and engaging inde-
pendent contractors. The client has been
very successful, with three New Jersey
locations, others on the way, a licensing
agreement in Illinois, and a sought-after
performance training program for pro-
fessional and student athletes, including
training for the NFL combine. In another
example, we assisted an entrepreneur
who developed an artificial shoulder
implant, now a long-term, successful
client. To fund the significant costs nec-
essary to develop a prototype, obtain
FDA approval and build-out starting
inventory and the instruments necessary
to implant the product, we negotiated
equity compensation arrangements with
suppliers and service providers in order
to reduce the need for outside capital.
Working with a client from its inception
can be very rewarding both profession-
ally and personally, as was the case in
these two examples.
Harwood Lloyd, LLC
By Thomas Loikith, Esq.,
Member
Harwood Lloyd has a
long tradition of helping
entrepreneurs start and grow new busi-
nesses. Our attorneys regularly assist
small business owners in forming new
business entities, preparing initial orga-
nizational documents, including bylaws,
shareholders’ agreements or LLC operat-
ing agreements as appropriate, negoti-
ating leases for business space, and
drafting employment, consulting or
other agreements related to the new
business. Because of the different prac-
tice areas within Harwood Lloyd, we are
also able to provide an entrepreneur
with legal services more indirectly relat-
ed to their small business, such as
addressing insurance coverage issues
and estate and succession planning.
Because of our contacts outside the
firm, we are able to help an entrepre-
neur develop relationships with profes-
sionals important for the successful cre-
ation and maintenance of a small busi-
ness, such as lenders, accountants and
intellectual property counsel. In one
instance, we assisted a client who was
establishing a new specialty food and
entertainment business by forming an
LLC to lease space at a single location.
Over the years, as the client’s business
expanded, Harwood Lloyd formed addi-
tional entities and negotiated leases for
other locations, drafted employment
and licensing agreements, and closed
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COVER STORY: FREE ENTERPRISE
8. financing transactions to the point
where the client now has multiple loca-
tions with more planned in the future.
McCarter & English, LLP
By Susan O. Goldsmith,
Esq., Partner
One of many ways our
firm helps entrepreneurs
flourish and grow is by helping them
answer the question, “What do I call
this venture?” Long before investing seri-
ous money in a startup, entrepreneurs
should invest serious time considering
names. The name should foster success,
rather than being a distraction or pro-
voking challenges from competitors who
might see their names or logos reflected
in yours. I help startups name themselves,
so customers will see a company name
that evokes the image of a product with-
out being specific about it—”Coppertone”
rather than “SPF-30” or “Audible” rather
than “Recorded Books.” To grow from
startup to successful, ongoing entity,
companies should avoid having to
change their name post-launch, which
happens. Often it is because founders
were misled by the availability of a
domain name, corporate name or even
submission of a mark to the Trademark
Office. “CocaColaComputers.com” may
be available, but that does not mean
you can freely use it. There are enough
potholes on the road to success that
entrepreneurs should avoid the avoidable
by searching with competent counsel
for a good name that resonates with
customers and won’t antagonize
competitors.
Norris McLaughlin &
Marcus, P.A.
By Salil P. Jani, Esq.,
Member
Here at NMM, we are
committed to entrepreneurs and early
stage companies, in particular those that
intend to seek venture capital financing.
As part of our practice, we like to get
22 COMMERCE • www.commercemagnj.com
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FOCUS ON
WHAT COUNTS
[ PEOPLE ]
The true strength of Citrin Cooperman begins and ends with listening
to our clients’ needs and allowing them to focus on what really counts.
Focus on what counts means not only providing deeper insight and
delivering services that address our clients’ short-term needs and
long-term business objectives, but also helping clients thrive when
they are able to concentrate on what is most important to them.
SALVATORE REDA
Partner
T: 973-218-0500
sreda@citrincooperman.com
ALEX SERRANO
Co-Managing Partner
T: 973-218-0500
aserrano@citrincooperman.com
F O C U S O N W H AT C O U N T S
COVER STORY: FREE ENTERPRISE
“Most entrepreneurs I talk to do not even remem-
ber when they became wealthy,” says O’Leary. “It
just happened because they were so passionate
about what they were doing.”
9. to know the founders and understand
their vision for the company. This deep-
er understanding of a client's vision
helps us plan for their success and
guide them on the matters that are
most important to achieve their particu-
lar goals. Recognizing startups’ desire
for transparency on fees, we have been
very creative in developing alternative
fee structures where possible to enable
entrepreneurs and early-stage compa-
nies to invest more money into growing
their business. In one example, we have
had the pleasure of working with our
client NS1 from the early stages of their
company. We have worked with them
through initial corporate matters relat-
ing to organizational documents, hiring
their first employees and protecting
intellectual property. We also drafted
streamlined customer contracts to help
them reduce the lag in the sales cycle
that is often introduced by protracted
legal negotiations. We have advised the
company through multiple fundraising
rounds and enjoy our continued rela-
tionship with what has quickly become
the market leader in DNS and traffic
management.
NPZ Law Group, P.C.
By David H. Nachman. Esq.,
Managing Attorney, U.S.
Division
NPZ Law Group continues
to assist entrepreneurs to enter the
United States and to invest in businesses
that continue to fortify our nation’s eco-
nomic infrastructure. On a daily basis,
our immigration attorneys receive calls
from representatives of international
businesses seeking to expand into the
U.S. marketplace. Recently, we assisted a
growing generic pharmaceutical compa-
ny from abroad in opening a new office
in the United States and in securing an
intracompany transferee manager from
its parent company. After the filing, the
U.S. Department of Homeland Security
(DHS) questioned the transferee’s role
serving as a “manager” for the new
office. Because the office was “new,”
the DHS argued that the role that the
individual played was not “managerial”
since she performed a variety of func-
tions that were alleged by the DHS to
be non-managerial. Following a detailed
response by NPZ to the DHS (accompa-
nied by a detailed corporate hierarchical
chart and affidavits by other executives),
the government approved the manager
to head up the U.S. office. Following the
approval, the foreign parent company
immediately invested additional funding
in its new U.S. office that has resulted in
the hire of 10 new U.S. workers to assist
with the growing business.
Scarinci Hollenbeck,
Attorneys at Law
By Kenneth J. Hollenbeck,
Esq., Managing Partner
Attorneys at Scarinci
Hollenbeck have advised entrepreneurs
in organizing and funding hundreds of
startups. Clients come to us with ideas
24 COMMERCE • www.commercemagnj.com
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COVER STORY: FREE ENTERPRISE
Nanina’s In The Park, (973) 751-1230,
www.naninasinthepark.com, is a
magnificent New Jersey landmark,
nestled in a historical park setting in
Belleville, New Jersey. It features lavishly
manicured grounds, and its famous
cherry blossom gardens and Tuscan-villa architecture create
a picture-perfect setting for meetings and events. Nanina’s
In The Park is located on the cusp of New Jersey’s Branch
Brook Park, convenient to all major highways, and
just three minutes from the Garden State
Parkway. Proudly family-owned and operat-
ed, Nanina’s offers the ideal setting for
extraordinary catered events, and its
ballroom is reserved exclusively for one
affair at a time and spaciously accommo-
dates up to 400 seated guests.
The Park Savoy, (973) 377-
7100, www.TheParkSavoy.com,
is the perfect venue for corporate
holiday parties, events, fundrais-
ers, banquets and celebrations
featuring 19th Century architec-
ture, elegant gardens, exceptional cuisine from a renowned
chef and impeccable service. In 2011, long-time business
partners Barry Maurillo, Joe Maurillo and Vito Cucci,
envisioned a new and re-born Park Savoy, and purchased
the estate while making plans for a grand renovation.
The partnership had previously re-created the well-known
Nanina’s In the Park, another upscale catering venue, just
10 years prior. The newly re-created Park Savoy Estate—
with its cozy fireplaces; exquisite and private bridal suite;
ballroom boasting details only seen in the great mansions
of Newport; and a view unparalleled in the area, and
enhanced by its great floor-to-ceiling windows—promises
to be the frame that holds many fantastic celebrations. n
Spotlight on…Nanina’s In The Park and The Park Savoy
10. needing funding, and we help arrange,
negotiate and have closed on hundreds
of millions of dollars of funding through
seed financing with angel investors and
“Series A” financing rounds. We guide
startups through securities, corporate
and tax laws, advising on offering struc-
tures, offering documents, negotiations
with investors, underwriters, crowd-
funding and other potential funding
avenues. End-game solutions for our
startup clients and their investors have
included listings on NASDAQ and the
New York Stock Exchange, mergers and
outright sales of the business. We assist-
ed Vericred, Inc., a 2014 startup that
raised $4 million, as it launched its
PlanCompass Pro Web site in New Jersey
in 2015, and is now offering its products
throughout the country. PlanCompass
Pro assists companies and employees in
costing and selecting their medical insur-
ance carriers by allowing the insured
and their employers to review the vari-
ous coverages and select coverage
and physicians. Vericred is generating
monthly revenues, providing transparen-
cy into provider networks, growing its
offering of decision support tools
throughout the country with funding
we helped it to secure, and moving for-
ward to potential end-game solutions.
***
Editor’s Note: The study of global busi-
ness and preparation of a global work-
force for today’s marketplace is essential
for America’s future. As these students
will create the small businesses and
innovations that will drive economic
and job growth, COMMERCE asked
New Jersey’s top colleges and universi-
ties to describe their global education
initiatives and programs.
HIGHER EDUCATION:
GLOBAL PROGRAMS
Fairleigh Dickinson University,
Silberman College of Business
By Dr. Andrew J. Rosman,
Dean
At the undergraduate
level, Fairleigh Dickinson University
incorporates global studies in two ways.
The first is the traditional study-abroad
experience, which includes FDU’s two
international campuses (Vancouver,
26 COMMERCE • www.commercemagnj.com
continued on page 28
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COVER STORY: FREE ENTERPRISE
11. Canada, and Wroxton, England) as
well as other partner institutions across
Europe, Asia and beyond. Faculty men-
tors guide the students’ curriculum
choices as well as create opportunities
to enrich their studies with real-world
business collaborations and collabora-
tions with faculty mentors at other insti-
tutions. The second expands the tradi-
tional experience to include global
internships. Not only will students expe-
rience studying abroad, but more impor-
tantly, they can work in an internship
that will allow them to experience the
business climate abroad. Students return
to the United States better equipped to
deal with global issues, which provides
them a competitive advantage when
working for a global company. As one
executive has observed, who better to
do a global rotation at a multi-national
company than someone who already has
done one in college as an intern. At the
graduate level, Executive MBA students
travel abroad on a 12-day themed trip
that takes them to several countries,
and features meetings with top execu-
tives from companies such as Novartis
to understand the global nature of
business.
Felician University
School of Business
By Robert Evans, Dean
The Felician University
School of Business recog-
nizes the need for a global dimension
in education, and includes an interna-
tional perspective across its curriculum.
In addition, at the graduate level, stu-
dents are afforded the opportunity to
study abroad through a partnership
with an Irish university. Students spend
time working on a real-life project with
an international company. Working col-
laboratively with students from around
the globe, Felician students participate
in a real-life, project-based course of
study. They learn the similarities and dif-
ferences of international businesses, and
they also learn how to work effectively
28 COMMERCE • www.commercemagnj.com
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13. Kean University
By Dr. Dawood Farahi,
President
Kean University is home
to a Global Business School
dedicated to educating the business
leaders of tomorrow. Located in the
state-of-the-art Green Lane Academic
Building, Kean University’s Global
Business School prepares students for
careers in the new global economy.
Kean leverages its broad resources
including our close proximity to New
York City, a center of international busi-
ness, and our full-scale campus in
Wenzhou, China—another global com-
mercial hub to provide our students
with innovative and immersive educa-
tional experiences. Kean students have
the opportunity to study abroad at
Wenzhou-Kean for the cost of a semes-
ter on our Union campus. Our Global
Business School’s multi-national Board of
Advisors shares their unique insights
into foreign markets with Kean students
and faculty. Our expert instructors pro-
vide our students with the tools needed
to thrive in the workforce of today and
tomorrow. We provide competitive
internship opportunities and real-world
consultancy experiences that help our
students to forge pathways to successful
careers, bridging the gap between the
classroom and the boardroom.
Montclair State University,
Feliciano School of Business
By Dr. Greg Cant, Dean
Montclair State
University’s Feliciano School
of Business offers a range of MBA pro-
grams that focus on developing students’
skills and talents, while also accommodat-
ing the demands of work and life.
Although the programs vary in structure,
they all share the component of manda-
tory participation in a nine-to-ten day,
faculty-led international trip. Since adding
the trip to the revamped curriculum in
2012, 16 cohorts have traveled to destina-
tions including Thailand, Brazil, China,
the Czech Republic, Hungary, Turkey
and South Africa. Designed to provide
on-the-ground experience and insights
into emerging economies and global
competition, the trip gives students valu-
able perspectives they would not have
acquired in a traditional classroom.
Learning directly from leading executives
and managers in non-American markets,
the experience prepares students to oper-
ate nimbly in an increasingly dynamic
and complex multinational business envi-
ronment. By traveling as business stu-
dents, rather than tourists, the trip
enables participants to examine and
understand the myriad issues that can
impact and complicate global economics.
In traveling, they have the opportunity to
gain cultural context and become interna-
tionally savvy. Upon returning, students
report being prepared to navigate the
challenge of culturally distinct business
practices and management principles,
giving them a significant advantage and
positioning them for success.
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COVER STORY: FREE ENTERPRISE
14. New Jersey City University
By Dr. Sue Henderson,
President
New Jersey City
University (NJCU) prepares
students for the global workforce by
incorporating global studies, abroad
experiences and international knowl-
edge exchange into the overall curricu-
lum, as well as the NJCU School of
Business courses of study. With more
than 60 ethnicities represented, and
more than 30 languages spoken on
campus, NJCU itself is a global experi-
ence. Washington Monthly ranked
NJCU “Best Public School in New Jersey
for Ethnic Diversity.” Through the aus-
pices of the NJCU School of Business,
the University’s Institute for Dispute
Resolution promotes international nego-
tiation and mediation techniques to
manage disputes in cross-border com-
mercial, investor-state and general con-
flict resolution forums. In addition, NJCU
recently established a Confucius Institute
to enable international opportunities
for students and faculty with a partner
university in China, Jilin Huaqiao Univer-
sity of Foreign Languages in Jilin
Province, one of the largest private
universities in China. In the past aca-
demic year, NJCU students have traveled
to Mumbai, Vienna, and Paris to partici-
pate in international competitions,
including the 11th International
Chamber of Commerce (ICC) Interna-
tional Commercial Mediation Competi-
tion. This spring, the University will send
a record number of students on travel
abroad trips including Berlin, Ireland,
Japan, Tanzania, Cuba, Istanbul, Costa
Rica, Germany and Poland.
New Jersey Institute of
Technology, Martin Tuchman
School of Management
By Dr. Reggie J. Caudill,
Dean
The world of business is changing rap-
idly, driven by the many new digital and
information technologies that are all
around us. Companies are looking for
people who understand business funda-
mentals and have the technology skills
to succeed. This is the future of global
business. The Martin Tuchman School of
Management at NJIT provides a strong
foundation in business and manage-
ment principles with a focus on the ana-
lytic and technology skills necessary to
succeed in today’s data-driven world of
global business. This goes well beyond
traditional business programs into a new
world of business intelligence and data
analytics, management information sys-
tems and technology innovation and
commercialization. We are committed to
providing a solid foundation in business
and management within an experiential
learning environment and opportunities
to intern with major global corporations
throughout the region or startup com-
panies in our small business incubator.
NJIT has a number of agreements with
universities in Europe, and is a member
of the Global Engineering Education
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News That Means Business
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15. Exchange. Through this partnership,
students can study in more than 20
countries. Past participants have report-
ed that studying overseas is an experi-
ence that has given them a more sophis-
ticated understanding of themselves,
as well as other societies and cultures.
Ramapo College of
New Jersey
By Dr. Peter P. Mercer,
President
Technological advances
and global competition have changed
almost every facet of our economy,
requiring workers to commit to continu-
ous learning and the development of
new skills. With this ever-changing econ-
omy in mind, Ramapo College devel-
oped an accelerated, 20-month MBA
program featuring a broad-based cur-
riculum and emphasizing leadership,
versatility and a global perspective.
Given the importance of global manage-
ment, MBA students sharpen their inter-
national skills during a nine-day trip to
China, which is designed to introduce
the history, culture and business envi-
ronment of China through tours and
meetings. Ramapo’s MBA program was
born in the midst of the financial crisis
of 2008, which prompted the college
to consider what kind of program would
produce the most successful leaders—
in any economy. The Ramapo MBA pro-
gram focuses on developing adaptive
skills that serve current demands with
an eye on the global markets and new
technologies that will follow. Ramapo’s
International Studies program provides
opportunities for eligible undergraduate
students to experience the world as
their classroom, integrating coursework
with culture while earning a degree.
There also are internship opportunities
available that further enhance the expe-
rience by offering a taste of internation-
al employment.
Rutgers School of
Business-Camden
By Dr. Snehamay Banerjee,
Associate Dean of
Undergraduate Programs
We have a multi-pronged approach
for exposing our students to a global
business environment. Our faculty repre-
sents more than 12 countries, including
China, India, Iran, Japan, Kazakhstan,
Germany, Russia, South Korea and
Ukraine, who share their experience and
36 COMMERCE • www.commercemagnj.com
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Established 1928
COVER STORY: FREE ENTERPRISE
16. expertise in classrooms. Our courses on
International Business, International
Finance etc., expose our students to a
global business environment and poli-
cies both at the undergraduate and
graduate levels. Our school has faculty
and student exchange programs with
business schools in several countries,
including emerging economies such as
Brazil, China, India, South Korea and
Turkey. This provides excellent exposure
and opportunities for our students. In
addition, we have multiple international
study/trip courses where students study
the socioeconomic environment of one
or more countries and take a 12-to-15-
day, faculty-led study trip in those coun-
tries. During the trip, students visit busi-
nesses and discuss strategies, work joint-
ly with university students in those
countries in analyzing business cases,
work on real business cases for smaller
companies and/or get involved in social
entrepreneurship projects. For example,
our students developed business plans
for disadvantaged, women-owned busi-
nesses in the Cape Town, South Africa
area and helped them secure bank
loans. Our motto is “Learn, understand,
practice and develop relationships.”
Seton Hall University,
Stillman School of Business
By Dr. Joyce A. Strawser,
Dean
All undergraduate and
MBA students take a core international
business course that highlights the
trends and forces that shape interna-
tional commercial activity and business
decisions. Subsequent courses in the
individual business discipline areas
extend and leverage that foundation. In
addition, because we believe that study
abroad experiences are so important, we
offer two distinct models to meet stu-
dents’ needs: one or two-semester pro-
grams where students study full-time at
an international institution, with credits
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PLEASE CONTACT:
James Blake / Office Managing Partner / New Jersey Practice
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17. subsequently applied to their Seton Hall
degree. The Stillman School has a num-
ber of designated partner institutions,
but students may also work with advi-
sors to develop a customized program
of study with an educational institution
in a country of their choice; individual
“Doing Business in…” travel courses
that include a one to two week trip to
an international destination. Students
visit leading corporations and partici-
pate in educational seminars with execu-
tives representing those companies.
For students who wish to further spe-
cialize in international studies, we offer
undergraduates a 27-credit “Minor in
International Business,” where students
select a specific geographical region and
complete language, cultural/geopolitical
and business courses specific to that
region; and MBA students, a 12-credit
concentration in International Business,
where students complete four interna-
tional business courses.
Stockton University
By Dr. Harvey Kesselman,
President
Stockton University is
preparing students for the
future by emphasizing global awareness
in our academic, cultural and service
programs. The world is such an interde-
pendent system that employers both
here and abroad value employees who
can communicate effectively across cul-
tures. Global perspectives represent a
key pillar in Stockton’s 2020 strategic
planning, leading the university to fund
$117,000 in innovative global projects in
recent years. These include clinical visits
by faculty and graduate students of
the School of Health Sciences to sites in
Bogota, Colombia, through a collabora-
tive agreement with the Universidad
del Rosario, and a project to teach glob-
al computer coding in cooperation with
the University of Johannesburg in South
Africa. The School of Business offers
courses in international business in
Finance, Marketing and Management,
which are available to all business stu-
dents. Students in Hospitality & Tourism
Management Studies can take a semes-
ter-long course that includes a study
tour of Italy’s visitor bureaus, hotels
and wineries over spring break. Stockton
offers many avenues for global learning,
from study abroad, to international
speakers and curriculum, to opening our
campus to students from 14 countries.
40 COMMERCE • www.commercemagnj.com
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COVER STORY: FREE ENTERPRISE
18. Both international and home-grown students benefit
from our programs, and can forge friendships that
blossom into career opportunities.
Thomas Edison State University,
School of Business and Management
By Dr. Michael Williams, Dean
Twenty-first century commerce is
global. Therefore, business and manage-
ment students must be prepared to engage within the
cultural contexts and business demands articulated by
the rapidly evolving marketplace. Thomas Edison State
University’s School of Business and Management’s
curriculum reflects a global orientation in its business
and management courses, enabling students to cultivate
a global perspective and develop the knowledge, com-
petencies and skills necessary to transact business in
diverse societies possessing unique customs and business
practices. In order for today’s business school graduates
to be workforce ready, they need exposure to, and a
practical understanding of, global markets, the sociopo-
litical dynamics influencing international trade and the
culture in which they will be operating. These are essen-
tial components in preparing students to be competitive
in the global workforce. To effectively prepare these stu-
dents to compete and excel in the worldwide business
arena, the school’s curriculum incorporates key content
associated with global business and management topics.
Moreover, the school offers two degrees aligned with
global business education: a Bachelor of Science in
Business Administration in International Business and
our Master of Science in International Business Finance
programs.
William Paterson University,
Cotsakos College of Business
By Dr. Siamack Shojai, Dean
The Cotsakos College of Business offers
a major in global business, language cours-
es, study abroad opportunities and has a 10-year stu-
dent and faculty exchange relationship with Zhejiang
University of Technology in China. The college also has
a Global Business and Finance Institute that hosts more
than 100 Chinese students each year, and offers our
students the opportunity to interact and study with
them. Our Global College Student Forum provides
a platform for students around the world to debate
important economic and political issues. Students
connect via Skype with their counterparts at universities
in China to debate global business issues, such as curren-
cy revaluation, outsourcing, protectionism, economic
regulations, local business practices and many others.
Students can also obtain internships with global compa-
nies in New Jersey, New York and abroad. n
42 COMMERCE • www.commercemagnj.com
continued from page 40
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