The UNC-Chapel Hill School of Law received a $1.53 million gift from the William R. Kenan, Jr. Charitable Trust. Funds will be used to train aspiring lawyers to help entrepreneurs, because a lack of legal knowledge, often due to the inability to fund legal counsel, has been identified as a major cause of startup failure. Three clinics will be set up, each training 8-10 students per semester and serving entrepreneurs in the process. One will be for for-profit ventures and train students how to explain to clientele the options for structuring their business entity, form those entities, and draft organizational documents. A second will be for intellectual property, teaching how to capture and license innovations. The third, Carolina Law’s Community Development Law Clinic, is already operational, and it trains students to help nonprofits obtain tax-exempt status. In addition, the North Carolina General Assembly has appropriated $465,000 in recurring funds for the initiative.