Business law, sometimes also called commercial law or corporate law, is the area of law that deals with business and commercial transactions. It incorporates practices surrounding areas including the creation of business entities, as well as insurance, contracts, hiring practices, and the manufacture and sale of goods used by a company. Another area of business law that’s growing in importance is how computers and technology are affecting corporations. Business law education at the best business schools must also include learning about the protection of both intellectual property and the privacy of information stored on computers.
Many businesses today operate internationally, which means it’s important for all business students in any major at the best business colleges to have a basic understanding of the legal system both within the country and how the United States’ judicial system interacts with other countries’ governments. Students can also choose to major solely in business law.
A business law program at good business schools incorporates both a legal education and a business education. It incorporates core business classes including accounting, management, economics, and marketing into core law courses such as criminal law, ethics, legal writing, and civil procedures. Depending on which business school a student is attending and what they’re most interested in, they can also choose to study more specific topics like bankruptcy law, environmental law, or taxation law.
Because the study of business law covers a wide variety of topics, there are many career opportunities open to students who study business law in the best business programs. There are many jobs in industries that are regulated closely by the government, including banking, auditing, or real estate. However, business law majors can find positions in areas ranging from financial analysis and risk management to health care, to accounting.
The following are the top ranked business schools for their business law programs:
- Goizueta Business School at Emory University
- Cox School of Business at Southern Methodist University
- McIntire School of Commerce at the University of Virginia
- School of Business at the University of Miami
- Mendoza College of Business at the University of Notre Dame
- College of Business at Butler University
- Dyson School of Applied Economics and Management at Cornell University
- Krannert School of Management at Purdue University
- School of Business at the University of Connecticut
- Sellinger School of Business at Loyola University Maryland