Abstract

In professional services industries, founders often spend many years learning their trade before founding their own firms. This learning, for example, takes place in law school, medical school, or business school classrooms. The learning also takes place through on-the-job apprenticeships, clerkships, or internships. Through these formal and informal learning environments, future founders are exposed to, and indoctrinated to, the field’s current practices. This extensive professional training likely impacts the manner in which professionals structure their own organizations and activities.

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