Law can be viewed as a vast set of theories of liability.  An 
individual or entity is subject to civil or criminal liability, 
or has a right to a civil remedy, only if there is a legal 
theory that, when applied to facts that can be proved in court,
provides for the imposition of that liability or provides a 
remedy.  The legal environment of business consists of the set 
of those theories applicable to engaging in business.  As those 
theories change over time, the legal environment of business 
changes.

The objective of this course must be more modest than preparing 
each student to engage in his or her career without resort to 
seeking the advice of counsel.  Nevertheless, only with some 
familiarity with the substance of applicable legal rules 
can one determine that a particular factual pattern presents 
legal issues that warrant seeking the advice of legal counsel.  
This course (i) introduces students to legal principles 
pertinent to business, to allow them to recognize the existence 
of legal issues arising from business practice; (ii) provides 
knowledge to facilitate business decisionmaking in matters 
involving legal issues that are customarily addressed without 
reference to legal counsel; (iii) provides knowledge of the 
framework, structure and content of the legal and regulatory 
environment of business to allow knowledgeable and effective 
interaction with legal and other regulatory professionals; and 
(iv) introduces pertinent ethical considerations.

Introduction and terminology
Court systems and procedures
Constitutional law
Torts and strict liability
Contracts and sales
Agency
Business forms
Creditor-debtor relations and bankruptcy
Antitrust
Criminal law
Discrimination
Intellectual property
Administrative law
Ethics
Other aspects of private law