In most countries, law degrees are granted without regard to specialization: that is, law students earn a general law degree and graduate as lawyers who must then choose a specialty. Students who know they want to focus on business law or work in a corporation’s legal department usually take a lot of business law courses in law school, but earning a specific business law degree is not usually possible. A joint degree in business and law is more common.
The first step for a student interested in pursuing a business law degree is to apply to law school. Admissions criteria for law schools differ from one school to the next and from one country to the next. In the United States, law school admission usually necessitates a bachelor’s degree and the passing of the Law School Admission Test (LSAT). Other countries, such as Australia and the United Kingdom, accept law students directly from high school and admit them to a multi-year program based on grades and high school exit exam scores. Admission to law school is extremely competitive.
The next step in pursuing the goals of a business law degree is to select a law school. Despite the difficulty, if not impossibility, of finding a business law degree program, business and commercial law classes are almost always offered as law school electives, particularly to upper-level students. Some schools have better business law programs than others. A student interested in studying business law or earning a business law degree should research a number of law schools, visiting where possible and asking questions about the business curriculum and resources available. The number of law school graduates who work in business law can be a good indicator of a school’s business law expertise.
The legal aspects of starting and running a business are covered in business law classes. Contract negotiations, multi-layer transaction oversight, and accounting and tax management are all essential topics. Cross-border business transactions are usually covered as well. The majority of business law is of a civil nature. Students will learn how to lead and advise businesses to operate within the law’s confines, but they will not typically focus on prosecuting businesses that break the law. Criminal law courses frequently cover business crimes.
Many of the larger universities with law schools also have business schools on campus. By taking law courses concurrently with business school courses, a student may be able to complete his business law degree goals. Many schools also offer dual-degree programs, which allow students to earn a law degree as well as a business degree, such as a master’s of business administration (MBA). Dual degree programs typically take longer to complete than a law degree alone, usually about a year.