For prospective MBAs interested in the intersection of business and law, Columbia Business School just became even more appealing. It announced last week that the Richard Paul and Ellen S. Richman Private Family Foundation granted  $10 million to Columbia University to establish the Richard Paul Richman Center for Business, Law and Public Policy. The Center will be jointly overseen by Columbia Business School and Columbia Law School.  According to a Columbia University press release:

The new center will encourage collaboration among Columbia’s most prominent business and legal scholars to generate research that will inform public policy and help to unite scholarship with its real-world applications in both business and law. The Richman Center will also provide a platform for the promotion of dialogue and the exchange of ideas on timely and relevant issues, while inspiring future generations of students to pursue careers at the nexus of business, law and public policy.

Proposed Richman Center activities include curriculum development, faculty research project funding and extracurricular events such as industry conferences. According to Columbia University president Lee C. Bollinger, “Columbia’s accomplished faculty at both the Business School and the Law School share a commitment to addressing the complex challenges found at the intersection of their disciplines, and the Richman Center will undoubtedly be a valuable source of innovative scholarship and real-world solutions in the years ahead.”

In addition to opening the Center, the Richman Foundation will also fund a Richard Paul Richman Professorship of Law and a Richard Paul Richman Professorship of Business. The professors awarded these positions will have the opportunity to create research initiatives in business, law and public policy.

 Richard Paul Richman graduated from both Columbia Business School and Columbia Law School and is currently the chairman of the Richman Group, one of the nation’s largest rental property developers.

“The complex challenges in public policy need to be informed by the pragmatic perspectives of both business and law. Columbia’s intellectual capital in these two disciplines is unparalleled and represents a powerful tool to address today’s problems as well as lay the foundation for a well-planned future,” said Richman.

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