This article evaluates the emergent academic field of entrepreneurship to better understand its progress and potential. We apply boundary and exchange concepts to examine 97 entrepreneurship articles published in leading management journals from 1985 to 1999. Some evidence was found of an upward trend in the number of published entrepreneurship articles, although the percentage of entrepreneurship articles remains low. The highly permeable boundaries of entrepreneurship facilitate intellectual exchange with other management areas but sometimes discourage the development of entrepreneurship theory and hinder legitimacy. We argue that focusing entrepreneurship research at the intersection of the constructs of individuals, opportunities, modes of organizing, and the environment will define the field and enhance legitimacy. Decision theory, start-up factors of production, information processing and network theory, and temporal dynamics are put forward for entrepreneurship scholars to explore important research questions in these intersections.