Disagree on the law school. B-schools are heavily based on reputation, but GT jumped from the bottom to Top 25 (then regressed back to Top 30) in just a few years after adding the MBA. Feel like a Law School would be similar (attract a bunch of former engineers, resulting in fairly decent admission stats, resulting in "better than mediocre" standing). Getting from better-than-mediocre to T14 would take 50+ years, though. But conceivably could be better than UGA in 10 years.
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So, you may "feel" that way, but you'd be incredibly wrong. You will not attract very many good students, because no advisor will tell a student to go to a new law school. It would basically be "John Marshall at Tech."
Since they've ranked law schools, how many law schools have entered the top 14 that weren't in the original top 14? Zero.
Since they've ranked law schools, how many law schools have entered the present top 50 that weren't in the original top 50? Four. How many of those were schools started after 1950? Zero. You know who has a top 50 law school? U[sic]GA. Georgia Tech's law school would take a century to catch them. It is hubris to think the model that allows us to make other programs work so well can make a law school work well. Our MBA program has a good relationship with Emory Law. If you want to know how a law school would be viewed, ask GT's Dean of Managment rather they would even want such a relationship with a new law school (hint: they would not, because who wants to work with the type of students who would go to a new law school).
Since they've ranked law schools, how many law schools have entered the top 100 that were created after 1950? Two.
You can't build a law school repuation in 50 years. Gt's law school might attract engineers---but I've been hiring lawyers in the past year---and I can tell you, despite the fact that I would give a GT undergrad alum every benefit of the doubt, if I saw a new law school, including GT, I'd lose all credibility with the hiring committee if I advocated at all for such a graduate.
The law is not about research dollars; it generates tuition dollars.
GT's non-lawyers will believe that they can create a law school. And they might start one. But they will lose a lot of credibilty around the nation if they do so.
A med school can create resesarch dollars for a school. A law school can't. The law school generates tuition.
I can't imagine a competent leader at the helm of GT would pursue this sort of folly. Then again, it probably wouldn't be hard to land a faculty job there, so hey, count me as one of the people who might benefit from such a folly.