Information on the Legal Environment of Business Minor

Legal Environment of Business (LEBUS) Minor

The LEBUS minor 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.

Entrance Requirements for the LEBUS Minor: (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

Course Requirements for the LEBUS Minor: (A grade of "C" or better is required for all courses)

  1. Take the following core courses (6 credits)
    • ECON 104: Introductory Macroeconomic Policy and Analysis
    • FIN 301: Corporation Finance*
  2. Take the following Business Law foundation courses (6 credits)
    • BLAW 341: Business Law I: Introduction to Contracts, Liability Issues and Intellectual Property
    • BLAW 441: Business Law II: Agency, Employment and Business Structure
  3. 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

LEBUS Minor Recommended Academic Plan:

1st Semester 2nd Semester
  ECON 102 (entrance requirement)
3rd Semester 4th Semester
ACCTG 211 (entrance requirement) FIN 301* or ECON 104
5th Semester 6th Semester
ECON 104 or FIN 301 BLAW 441
BLAW 341  
7th Semester 8th Semester
BLAW 400-level elective BLAW 400-level elective

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 are strongly encouraged to take FIN 301 and BLAW 341 over the summer semesters. Course controls will only allow Smeal majors to register. The Department will only open up remaining seats in BLAW 341 approx. one month prior to the start of the semester.

Please contact 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 is the prerequisite for:

  • BLAW/RM 424
  • BLAW 441
  • BLAW 444

BLAW 441 is the prerequisite for:

  • BLAW 445
  • BLAW 446

No exceptions are made to the course prerequisites or the minor requirements. Please plan accordingly.

*Please note that BA 301 WILL NOT substitute for FIN 301. Academic advisors do not have the authority to make course substitutions for the minor requirements.