No reason why you shouldn't try for your dream schools, but I would also throw in a couple of other schools who don't get quite as many applications. The three schools you are targeting on your dream list turn down thousands of qualified applicants each year simply because they don't have enough seats for all the folks who apply. Law school is not detrimental at all especially in the area you worked. IP is a very valuable background for business and would bring a valuable perspective to the table for classroom discussions. You should be careful touting PE as your short term goal, since PE firms do not really recruit freshly minted MBAs. Perhaps doing some consulting or banking first would be a better story. Having said that, there are more and more PE folks returning to b-school, so they have likely helped classmates gain access to jobs over the past few years and who knows, maybe even be instrumental in getting PE firms to recruit directly. Let us know if you need help as you pull your application together. One very critical thing for you to do is to weave a story which makes sense and leads to your targeted job so the adcoms will know you will be easily employable. i don't think you'll have a problem doing this at all.
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