Students who wish to operate a business on campus must seek approval as a “student entrepreneur” from the Director of Campus Life. Approval allows the general privilege of doing business on campus plus certain specific privileges, such as exclusivity, use of College facilities, etc., under a written agreement signed by the Director of Campus Life and the Controller. These two College officials administer all agreements with student entrepreneurs and review each request annually to be sure the following issues are addressed:
- the enterprise has educational value-tying an enterprise to a class or having a faculty “business” adviser is recommended
- the enterprise will not conflict with any existing or planned operation of the College
- the enterprise will not conflict with any business arrangement or contract already established at the College
- the enterprise is not allowed business access to Colby facilities, such as telephone, mail, computers, etc.
- the enterprise shall not in any way affiliate itself with the College, represent itself as a business of the College, nor have access to use any official marks of the College (including name, logos, type, or mascots)
- the student is aware of the legal responsibilities of running a business, such as reporting income to the IRS and state, state sales tax collection, and signed business agreements with individuals and/or companies outside Colby
- any other specific terms and conditions that are unique to each enterprise
Once these concerns are addressed, a written agreement is established outlining the terms and conditions under which the student entrepreneur can do business on campus, as well as any specific privileges granted by the College. In most cases, agreements:
- are limited to specific business operations
- do not extend beyond the current academic year
- are not transferable
- can be terminated for failure to comply
- although not made available to the general public, are also not considered confidential
Students running non-approved operations do so in jeopardy of losing the enterprise and/or facing disciplinary action.