Business Law Track Requirements

A Guided Path of Study

The Business Law Track will expose students to core substantive courses in business law and socialize them to the business community and business law practice through experiences such as Foundations of Business Law, Business and Financial Basics for Lawyers, and individual mentoring with faculty and practitioners involved with the Business Law Program. The Business Law Program will work closely with students pursuing the Business Law Track to develop and market their transactional and counseling skills. Upon successfully completing the Business Law Track, students will receive a Letter of Completion to accompany their transcripts, which will highlight the student's skill sets and professional attributes that make the student well-suited for a business law related career.

The Business Law Track requires students to complete the following: (i) seven Core Courses; (ii) a business focused Experiential Learning Requirement (i.e., externship or clinic); and (iii) two business-related Elective courses. Each of these components is further described below. In addition, students pursuing the Track are expected to attend at least two meetings with the Program Director or Associate Director prior to graduation.

Participating in the Business Law Track

Students are not required to commit to the Business Law Track, but those who are considering it should join the Business Law Track Blackboard course as soon as possible as an expression of interest. Students enrolled in the Track course will receive exclusive news, invitations, and other offers by email from the Business Law Program, and they may also receive priority consideration for certain opportunities, such as participation in the transactional law team. To join, please log on to Blackboard, search the course menu for "Business Law Track," and submit a request for enrollment. Prior to graduation, students will formally elect the Business Law Track upon completing the requirements and requesting a Letter of Completion.

Learning Outcomes

Students will demonstrate understanding of substantive law related to business associations; income taxation; and another business law related practice area, such as bankruptcy, secured transactions, or securities regulation;
Students will be capable of performing legal analysis and reasoning in the areas of business law above;
Students will demonstrate a basic understanding of business, accounting, and finance fundamentals;
Students will demonstrate the ability to perform legal analysis and reasoning, problem solving, and written and oral communication to address challenges in working with parties whose business concerns and objectives may differ;
Students will demonstrate the professional skills of negotiation, collaboration, and counseling through 1) drafting and negotiating contract terms; 2) putting together a completed group work product; and 3) making presentations to clients; and
Students will hone their practical business law skills in research, problem solving, client counseling, advocacy, and professional and ethical responsibility through an immersion experience in a business focused externship or business focused clinical program.

Course Requirements & Sequencing

The Business Law Program requires students to complete seven Core Courses, as listed below.

Business Associations
Corporate Finance [or Program approved substitute]
Foundations of Business Law
Statutory Course***

Income Taxation
Business and Financial Basics for Lawyers*
Transactional Skills Course**

* Business and Financial Basics for Lawyers may be waived for students who have undergraduate or graduate degrees or minors in Business, Accounting, Finance, or related areas. Any student who may be eligible for a waiver must request Program review and receive a signed approval form from the Director or Associate Director.

** Courses that currently qualify for the Transactional Skills Course Requirement are: Business Planning Seminar; Contract Drafting; Environmental Law Seminar: Business Transactions; Real Estate Negotiation and Drafting; or Writing in Law Practice: Drafting Negotiated Agreements.

*** Courses that currently qualify for the Statutory Course Requirement are: Bankruptcy & Creditors Rights; Securities Regulation; Commercial Law: Secured Transactions; or Commercial Law: Sales/Reasoning & Rhetoric II.

Sequencing

We recommended that students interested in the Business Law Track sequence their course work according to the following schedule.

Fall 1L	Spring 1L
	Foundations of Business Law
Fall 2L	Spring 2L
Business Associations Income Taxation	Business and Financial Basics for Lawyers (January mini-mester, EXCEPT in Janurary 2020) Business Elective 1 Corporate Finance [or Statutory Course]
Fall 3L	Spring 3L
Statutory Course [or Corporate Finance] Experiential Learning Requirement	Transactional Skills Course Business Elective 2

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Clinics & Internships

In addition to the Core Courses, the Business Law Program requires students to complete at least 4 credit hours of experiential learning in business law, either in a Program-approved externship or the Intellectual Property and Entrepreneurship Clinic, Low Income Taxpayer Clinic, Small Business and Community Equity Development Clinic, or Consumer Bankruptcy Clinic/LTP. For students choosing to satisfy the Experiential Learning Requirement through an externship, they must receive approval of their proposed externship experience from the Business Law Program’s Associate Director, who serves as a faculty advisor and teaches a course in conjunction with the Business Law Externship program. (Additional information and examples of externship placements follows in the “Experiential Learning Plan” section.) This requirement may be waived under certain circumstances for evening students (or in some cases day students) who are working in an environment that provides equivalent experiential learning opportunities to a traditional business-related externship. Any student who may be eligible for a waiver must request Program review and receive a signed approval form from the Director or Associate Director.

Total credits: minimum 4

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Elective Courses

In addition to the Core Courses and the Experiential Learning Requirement, the Business Law Program requires students to complete two business law related elective courses, which may also satisfy a student’s clinical and Cardin requirement. Some course choices are noted below:

Administrative Law
Antitrust Law Seminar / Course
Bankruptcy and Creditors Rights*
Business Aspects of Health Care Law Seminar
Business Law Writing Seminar
Business Planning Seminar*
Commercial Law: Sales/Reasoning & Rhetoric II*
Commercial Law: Secured Transactions*
Community Economic Development Seminar: Legal Theory and Practice
Consumer Protection Seminar / Course
Contract Drafting*
Corporate Governance Seminar / Course
Corporate Taxation
Employee Benefits Law Seminar/Course (ERISA)
Estate and Gift Taxation
Estates & Trusts
Financial Markets: Regulation & Market Efficiency
Franchise Law
Futures, Options and Derivatives Seminar/Course
Government Contracts
Insurance Seminar / Course
Intellectual Property and Entrepreneurship Clinic
International Business Transactions
International Labor Law: Workers' Rights in the Global Economy Seminar
International Trade Law Seminar / Course
Law and Economics
Low Income Taxpayer Clinic
Negotiation
Not for Profit Corporations
Real Estate Transactions
Securities Regulation*
Special Topic: Legal Capital
Tax Controversies and Tax Fraud
Taxation of Partnerships and Limited Liability Companies
Tax Policy Seminar
Writing in Law Practice: Drafting Negotiated Agreements*
Writing in Law Practice: Negotiating and Drafting Business Agreements*

* Students may NOT use one of their Core Courses (e.g., Bankruptcy & Creditors Rights) to count also as an elective.

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FAQ

Q: Do I have to declare myself as a candidate or do something affirmative to pursue the Business Law Track?

A: Yes. You should submit a request to be enrolled in the “Business Law Track” course through Blackboard. This identifies you to the Business Law Program as a student interested in business law and gives us the opportunity to work with you and get to know you for purposes of providing the Letter of Completion upon your graduation. The expression of interest is non-binding, and you can opt not to pursue the Track at any time.

Q: Do you need a business or finance background to participate in the Business Law Track?

A: No. You simply need an interest in business law and a desire to learn basic business and finance principles that will enrich your understanding of the legal concepts you will study in the courses included in the Business Law Track. The Business and Financial Basics for Lawyers course is designed to provide this understanding of basic business and finance principles.

Q: Can I receive a waiver of the Business and Financial Basics for Lawyers course if I have a business or finance background?

A: Yes. The Business and Financial Basics for Lawyers course is designed to provide a basic understanding of key business and finance principles. Accordingly, students who already possess this general understand can obtain a waiver of the Business and Financial Basics for Lawyers requirement upon approval from the Program.

Q: Do Business Law Track students get a preference for enrollment in the Core Courses?

A: The Business Law Program will work with students and the Registrar's office to ensure that students are able to take the required courses prior to graduation.

Q: What is the difference between the 4-credit and 3-credit Business Associations course?

A: Although the content of each section of Business Associations, as with any course, is determined by the professor teaching the section, the primary difference is the extent of coverage given to the various components of business law. The 4-credit course covers agency law, partnership and limited liability company law, corporation law and securities law. The 3-credit course will not cover all of these areas or necessarily cover them in the same detail.

Q: Do I have to take Corporate Finance if I took that course in Business School or during my undergraduate studies?

A: The Corporate Finance course offered in connection with the Business Law Track is different in scope and focus from courses of a similar name offered outside of the law school. Although the Corporate Finance course covers some basic finance and valuation principles, the majority of the course focuses on the legal implications of corporate finance principles and how the law instructs decisions regarding a company's capital structure and the rights of the parties participating in that capital structure. Students may, however, be able to take a different course in place of Corporate Finance with Program approval.

Q. Can I substitute a different course for one of the non-core course requirements?

A. Maybe. Students seeking recognition for the non-core course requirement with a substitute course must receive written approval for the substitution from the Director or Associate Director of the Business Law Program.

Q: Will I receive a certificate upon completing the Business Law Track?

A: No. The Business Law Track is designed as a guided curriculum that will help students develop the skill set necessary to work or practice law in the business community. Students pursuing the Business Law Track will work closely with Professors Van Alstine and Hansen during their studies, and upon completion of the required courses, the Business Law Program will issue a Letter of Completion that details the student's preparation for practice through the Business Law Track.

Q: How can I identify myself as a student pursuing the Business Law Track to prospective employers?

A: Prior to completing the Business Law Track, students can identify themselves as a "Business Law Concentration Candidate." After completing the Business Law Track and receiving their Letter of Completion, students can list "Business Law Concentration" on their resumes. In addition, students can provide copies of their Letter of Completion to prospective employers.

Q: Do I have to pursue the Business Law Track in order to take courses identified as part of the Track?

A: No. All students are welcome to take the courses identified as part of the Business Law Track, including Business and Financial Basics for Lawyers. We also welcome all students to take Foundations of Business Law, provided that there is available space.

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