Gavin Howe
Business law is an undergraduate degree that provides a foundational set of skills that can be applied in a variety of career types and industries. The degree focuses on federal laws and legal processes that companies follow to maintain compliance. Students learn about accounting, finance, and business management, and how these relate to the complex legal system in the US and globally. A business law degree is not a prerequisite to practice law as a licensed attorney, but it may be helpful in providing a background in law.
| Characteristics | Values |
|---|---|
| Career opportunities | Real estate, law enforcement, hospital administration, business consulting, government affairs, financial management, banking, insurance, securities, health care |
| Starting salary | $57,350 |
| Prerequisites | Completion of a bachelor's program in political science, law, or business |
| Skills acquired | Problem-solving, negotiation, interpretation, analysis, research, critical thinking |
| Other benefits | Advanced degrees, higher salaries, additional qualifications, networking |
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What You'll Learn
Career opportunities
A degree in business law can open doors to a variety of career paths and industries. This degree equips graduates with a foundational set of skills that can be applied in diverse roles, allowing them to become dynamic professionals and business leaders who can influence critical industry decisions. While some graduates may choose to pursue law school and become lawyers, others can explore opportunities in fields such as banking, insurance, securities, and healthcare.
Business law majors gain a unique perspective on understanding the legal system and its interplay with businesses. They can assist companies in reducing risks, managing resources, and navigating the legal aspects of their operations. This expertise is highly valued by employers, as demonstrated by the career paths of alumni from Lewis & Clark Law School's Center for Business Law and Innovation. For example, graduates have gone on to work in federal and state government, private corporations, and law practice, with some even starting their own ventures.
The entertainment industry, in particular, offers a wealth of opportunities for business law professionals. Roles in this industry can range from working in music companies to influencing the alternative music community, as seen in the career path of Joel Andrew, who became the General Counsel and Senior Vice President of Business and Legal Affairs at CD Baby.
In addition to the entertainment industry, business law graduates can explore careers in regulated industries such as banking, insurance, securities, and healthcare. They can also pursue roles in human resources, employee relations, or financial analysis, where knowledge of legal regulations and business operations is crucial. Corporate paralegals, for instance, assist lawyers in business law and perform tasks such as drafting legal documents and ensuring compliance with business laws and regulations.
The skills acquired through a business law degree are versatile and applicable across various sectors. Graduates can leverage their knowledge of business practices and legal principles to provide valuable advice and guidance to organizations, helping them make informed decisions and navigate the complex landscape of running a business.
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Prerequisites
Firstly, it is important to note that a business law major is typically an undergraduate degree. As such, one prerequisite is typically a high school diploma or equivalent qualification. Additionally, as with most undergraduate programmes, applicants may be required to meet certain academic standards, such as a minimum Grade Point Average (GPA) of 3.0. Some institutions may also require applicants to submit standardised test scores, such as the Law School Admission Test (LSAT), and letters of recommendation. It is beneficial to review the specific application requirements of your chosen institution to ensure you meet the necessary academic standards.
Furthermore, while not always mandatory, prior knowledge or experience in related fields can strengthen your application. Undergraduate degrees in political science, law, or business can provide a solid foundation for a business law degree. Additionally, professional experience in law offices, corporate organisations, or accounting and finance departments can demonstrate your working knowledge and commitment to the field.
It is worth noting that a business law degree is often pursued by those aspiring to become lawyers, particularly corporate lawyers. However, it is important to be aware that an undergraduate degree in business law does not qualify an individual to practice law as a licensed attorney. To become a licensed attorney in the United States, one must typically obtain a Juris Doctor (JD) degree from an accredited law school and pass the bar exam in their respective state. Nevertheless, a business law degree can provide a useful background in law and complement other qualifications and work experience when applying to law school or seeking employment in related fields.
Finally, while not a prerequisite, it is beneficial to consider the career opportunities associated with a business law degree. Graduates may pursue careers in real estate, law enforcement, hospital administration, business consulting, government affairs, and financial management. Networking during your studies can be advantageous, as it may help you secure mid-level roles or develop valuable connections in your field of interest.
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Skills development
A business law degree can provide a versatile and valuable set of skills that can be applied to a variety of career types and industries. The degree focuses on more than just policy and legal regulations, ensuring students gain a solid understanding of core business disciplines.
Business law graduates can go on to become business leaders and influence critical industry decisions. They can also pursue careers in finance, such as compliance managers, who ensure compliance with regulations. A deep understanding of contract law, for example, can be beneficial for specialists in procurement, enabling them to respond faster in negotiations and identify risks before contracts are signed.
For those interested in the entertainment industry, business law skills can be leveraged to represent entertainers and their estates. Additionally, a business law education can open avenues for entrepreneurial exploration, such as advising early-stage entrepreneurial ventures.
While an undergraduate degree in business law can provide a foundational set of skills, it is important to note that in almost every state except California, one must have graduated with a Juris Doctor (JD) degree from an accredited law school to practice law as a licensed attorney. Thus, pursuing internships, service-learning positions, and gaining practical experience alongside a business law degree can enhance one's skill set and employability.
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Law school preparation
While majoring in business law can be a good way to gain a background in law, it is not a prerequisite for law school. In fact, in the US, aside from California, the only requirement to practice law as a licensed attorney is to have graduated with a Juris Doctor (JD) degree from an ABA-accredited law school. Therefore, the focus of your law school preparation should be on achieving a high GPA and a good LSAT score.
However, if you are set on majoring in business law, there are a few things you can do to prepare for law school. Firstly, it is important to develop strong analytical skills and methodology. Business law is an intellectually challenging field that deals with the constantly changing legal puzzles that businesses face. Therefore, taking courses that emphasize these skills can be beneficial. Additionally, gaining a basic understanding of business and accounting can be helpful, as business law deals with the legal aspects of business transactions, commercial litigation, tax, and more.
To set yourself up for success in law school, it is also important to develop good research and writing skills. These are crucial for a career in law and can be honed through a liberal arts major, for example. Furthermore, staying informed about new technology and global developments, as well as the pace of change, will give you an edge when it comes to understanding the evolving landscape of business law.
Finally, networking and gaining practical experience are important aspects of law school preparation. Consider attending networking events, joining relevant societies, and taking on internships or service-learning positions to build connections and gain valuable experience in the field of business law.
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Coursework
Business law is a broad field that combines management principles with legal studies. The coursework for a business law major will vary depending on the university and its location, but there are some common themes and topics covered by many programs.
Business law courses typically provide an in-depth knowledge of business management and strategy, alongside specialist knowledge of business law. For example, students will learn about the legal system and how it shapes business, including the areas of law that are particularly relevant to businesses, such as contract law, employment law, and commercial transactions.
The curriculum often includes a common business core, where students learn the fundamentals of the business world, and then progresses to more specialized subjects. These may include the nature and sources of law, court systems, litigation and dispute resolution, constitutional and administrative law, tort law, product liability, agency law, business ethics, and international law.
Additionally, due to the increasing impact of technology on businesses, some programs offer courses that cover cyberlaw and the digital age. This includes topics such as e-commerce law, intellectual property, data security, and international cyberlaw.
Business law students may also have the opportunity to gain practical experience through internships or cooperative programs, where they can apply their knowledge in real-world settings. These programs can provide valuable hands-on experience and help students develop transferable skills that are applicable to a variety of career paths.
It is worth noting that while a business law undergraduate major can provide a good background in law, it typically won't set you apart when applying to law schools. Instead, factors like LSAT scores, GPAs, and the prestige of the law school tend to carry more weight in the admissions process.
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Frequently asked questions
Business law is the base of the rules and regulations in business. It involves learning about federal laws and legal processes that companies follow to maintain compliance.
A degree in business law can lead to careers in real estate, law enforcement, hospital administration, business consulting, government affairs, and financial management. It can also help you develop skills such as problem-solving, negotiation, interpretation, analysis, and research, which can be applied to other industries.
A prerequisite for a business law degree is a bachelor's degree in a related field such as political science, law, or business. While not always necessary, work experience in a related field can also help strengthen your application.
A business law degree can provide a good foundation for further study in law. However, to practice law as a licensed attorney, most states require a Juris Doctor (JD) degree from an ABA-accredited law school.
