Legal Environment of Business
The Legal Environment of Business (LEBUS) at Penn State Smeal College of Business presents students with a structured study of the statutory and common law governing the business environment. Students in this program have the opportunity to learn advanced legal subject matter, including business organization structures, employment law, property law, commercial transactions, intellectual property, environmental law, and government regulation. Content is framed around the organization and support of complex business enterprises from a legal perspective. This includes complex legal transactions, litigation support and avoidance, and the development of enterprises. The emphasis on the complex nature of legal organization formation, transactions, and litigation support is provided through a rigorous selection of business law and core business courses.
In order to begin to understand the complexities of the legal and regulatory environment facing businesses presently, students must have competency in functional business concepts and practice. The LEBUS minor is "business centered" in that it is framed around the increasing influence of law and regulation in the daily practice of business activities.
Minor Requirements
Courses must be completed with a "C" or better.
ACCTG 211: Financial and Managerial Accounting for Decision Making
ECON 102: Introductory Microeconomics Policy and Analysis
Courses must be completed with a "C" or better.
Take the following core courses (6 credits)
ECON 104: Introductory Macroeconomic Policy and Analysis
FIN 301: Corporation Finance
or BA 301: Finance
Take the following Business Law foundation courses (6 credits)
BLAW 341: Business Law I: Introduction to Contracts, Liability Issues and Intellectual Property
or BLAW 243: Legal Environment of Business
BLAW 441: Business Law II: Agency, Employment and Business Structure
Select two Business Law electives (6 credits)
BLAW 424: Real Estate Law
BLAW 444: Advanced UCC and Commercial Transactions
BLAW 445: Advanced Intellectual Property and Competition Law
BLAW 446: Employment Law
BLAW 447: Entertainment Law
BLAW 497: Insurance Law
BLAW 497: Law and Strategy in the Sports Business
LEBUS Minor Recommended Academic Plan
Please Note: FIN 301 and BLAW 341 are courses that are required of all Smeal majors. As such, these courses fill both fall and spring semesters. Non-Smeal majors who are pursuing the LEBUS Minor may enroll in BLAW 243 and BA 301, however, BLAW 341 and FIN 301 are strongly encouraged in order to prepare students for the upper level BLAW courses.
Please email the Risk Management Department at rm@smeal.psu.edu with regards to enrollment in BLAW 341.
Please contact the Smeal Business Core Office at core@smeal.psu.edu or 814-865-CORE with regards to enrollment in FIN 301.
BLAW 341 or 243 is the prerequisite for:
BLAW/RM 424
BLAW 441
BLAW 444
BLAW 441 is the prerequisite for:
BLAW 445
BLAW 446