Twin Cities campus

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Twin Cities Campus

Business Law Minor

Law School
Curtis L. Carlson School of Management
  • Program Type: Undergraduate free-standing minor
  • Requirements for this program are current for Fall 2016
  • Required credits in this minor: 15
The business law minor is available to undergraduate degree-seeking students at the University of Minnesota. The minor provides an opportunity for students to explore issues and concepts at the intersection of law and business. Legal regulation of firms and markets is pervasive. Students interested in a career in business should understand how law structures business entities and the environments in which they operate, and how law both enables and constrains innovation. Students will learn analytical techniques that will be helpful in business settings and that can prepare them for further study in a law school, an MBA program, or other graduate program. Among the topics that students can explore through the minor are: the formation and regulation of business entities, the challenges of operating in a regulated market, rules applicable to fields in which many students will work (e.g., insurance, banking, consumer services, and manufacturing), and the intricacies of creating and managing intellectual property. Students who complete the minor will be in a better position to innovate; identify, define and solve problems; and communicate effectively in interactions with lawyers as they navigate through regulatory requirements that all businesses inevitably confront. The minor thus provides a portal to new ways of thinking and new forms of knowledge. Required and elective courses in the minor are offered through the Carlson School of Management and the Law School. All advising is through the Undergraduate Program Office in the Carlson School of Management, room 2-190 Hanson Hall (lawminor@umn.edu; 612-624-3313). Undergraduates enrolled in graduate-level courses will be graded separately from graduate students.
Program Delivery
This program is available:
  • via classroom (the majority of instruction is face-to-face)
Admission Requirements
A GPA above 2.0 is preferred for the following:
  • 3.00 already admitted to the degree-granting college
  • 3.00 transferring from another University of Minnesota college
  • 3.00 transferring from outside the University
For information about University of Minnesota admission requirements, visit the Office of Admissions website.
Minor Requirements
Introduction
Note: undergraduates must complete Law 3000 with a grade of C or higher before enrolling in other Law School courses as part of the minor. Students should therefore plan ahead and complete this course as early as possible.
LAW 3000 - Introduction to American Law and Legal Reasoning (3.0 cr)
Business and Accounting Concepts
Students must take one (and only one) of the following business and accounting concepts courses.
FINA 3001 - Finance Fundamentals (3.0 cr)
or LAW 5076 - Essentials of Business for Lawyers (3.0 cr)
or MGMT 3001 - Fundamentals of Management (3.0 cr)
or MGMT 3004 - Strategic Management (3.0 cr)
Elective Courses
Students should complete their remaining credits from a selection of courses listed below. Please note that not all courses are offered each year, and students enrolled in Law School degree programs receive first preference in the registration process. Appropriate Law School courses not on the list below may be taken to fulfill minor requirements, with permission from the student’s advisor in the minor program. **Students are strongly encouraged to take LAW 3050.**
Take 9 or more credit(s) from the following:
· LAW 3050 - Law of Business Organizations (3.0 cr)
· BLAW 3058 {Inactive} (4.0 cr)
· LAW 5061 {Inactive} (3.0 cr)
· LAW 5062 - Energy Law (3.0 cr)
· LAW 5100 - Basic Federal Income Tax (3.0 cr)
· LAW 5103 - Data Privacy Law (3.0 cr)
· LAW 5601 - International Business Transactions (3.0 cr)
· LAW 5606 {Inactive} (3.0 cr)
· LAW 5608 - Trademarks (3.0 cr)
· LAW 5613 - Copyright (3.0 cr)
· LAW 5624 {Inactive} (3.0 cr)
· LAW 5908 - Independent Research and Writing (1.0-2.0 cr)
 
More program views..
· Curtis L. Carlson School of Management

View future requirement(s):
· Spring 2023
· Fall 2022
· Fall 2021
· Fall 2020
· Spring 2020
· Fall 2018
· Fall 2017


View checkpoint chart:
· Business Law Minor
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LAW 3000 - Introduction to American Law and Legal Reasoning
Credits: 3.0 [max 3.0]
Course Equivalencies: Law 3000/Law 5000
Grading Basis: A-F only
Typically offered: Every Fall & Spring
Law pervades all areas of modern life. Yet it remains mysterious to those without legal training. This course will equip you to better answer such questions by exploring the tools that lawyers use to interpret and apply the law. Students will learn to think like lawyers through a series of contemporary case studies that require reading, writing, thinking, and problem solving like a lawyer. Cases will be drawn from topics such as contracts, torts, civil procedure, property, business law, criminal law, sports law, privacy, and law and science.
FINA 3001 - Finance Fundamentals
Credits: 3.0 [max 3.0]
Course Equivalencies: ApEc 3501/Fina 3001/Fina 3001H
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
How competition for capital in Capital Markets establishes metrics and measures used to understand financial performance of the firm. The course introduces the finance view of the firm and the application of value creation principles to firm decision making. Course presents the centrality of cash flows, the theoretical foundations for Time Value of Money, decision tools for investment of capital, basic valuation of stocks and bonds, and the theoretical foundations for the impact of risk on the required return on investor capital. prereq: ACCT 2050 or ACCT 2051, SCO 2550 or BA 2551 or equivalent statistics course
LAW 5076 - Essentials of Business for Lawyers
Credits: 3.0 [max 3.0]
Course Equivalencies: Law 5076/Law 6016/Law 6076/Law
Typically offered: Every Fall & Spring
This course will teach you how to: (1) Understand basic accounting principles; (2) Read an annual report and analyze financial statements; (3) Look beyond numbers to gauge the financial performance and strength of an entity; (4) Employ cash flow analysis to value a business or determine the potential financial rewards of an investment opportunity; and (5) Understand the strategic questions that business managers must confront in governing their companies. The course surveys foundational concepts, analytical techniques and practices related to finance, accounting and strategic management issues lawyers confront when working with business executives either as an outside consulting attorney or as an inside corporate counsel. It may also consider other concepts used by business executives, including organizational behavior, marketing and quantitative analysis. The aim of the course is to help law students better appreciate the broader business context of legal decision-making so that they can contribute more effectively as a member of a firm’s top management team or as outside counsel.
MGMT 3001 - Fundamentals of Management
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
This course is about the foundational principles of management, encompassing disciplinary and topical boundaries. We will look at these principles from the perspective of how they guide action, specifically: planning, organizing, leading and controlling. By the end of the course, students will know the basics of how to set up organizations to be effective and innovative, and not just efficient. During the course, you will engage with the material in the course and understand how management frameworks can be used to choose the right internal structures and processes that can best react to your particular industry context and general business environment.
MGMT 3004 - Strategic Management
Credits: 3.0 [max 3.0]
Course Equivalencies: Mgmt 3004/Mgmt 4004W
Grading Basis: A-F only
Typically offered: Every Fall & Spring
Business strategy. How business firms set and pursue their goals. Key categories of strategic issues and concepts/frameworks managers use to analyze and address those issues. Attention to specific firms and situations. prereq: CSOM, soph or jr
LAW 3050 - Law of Business Organizations
Credits: 3.0 [max 3.0]
Course Equivalencies: Law 3050/Law 5050
Grading Basis: A-F only
Typically offered: Every Spring
This course surveys the leading forms of legal business association governing the formation of business entities, including the laws of agency, partnerships, limited liability companies, and corporations. Emphasis is put on the methods lawyers use to interpret statutes and cases.
LAW 5062 - Energy Law
Credits: 3.0 [max 3.0]
Course Equivalencies: Law 5062/Law 6062
Typically offered: Every Fall
This course provides an introduction to U.S. energy law. The first portion of the course introduces the nation's sources of energy: coal, oil, biofuels, natural gas, hydropower, nuclear, wind, solar, geothermal energy, and energy efficiency. In doing so, it explores the physical, market, and legal structures within which these energy sources are extracted, transported, and converted into energy. The second portion of the course turns to the two major sectors of our energy economy--electricity and transportation--and the full range of federal and state regulation of each sector. The third portion of the course explores case studies of hot topics in energy law and policy that highlight the complex transitions taking place in the energy system. These topics include electric grid modernization, electric vehicles, risks and benefits associated with hydraulic fracturing and deepwater drilling for oil and gas, the development of offshore wind energy, and the continued role of nuclear energy. In addition to traditional textbook reading and class discussion, the course will include industry, government, and nonprofit guest speaker presentations. Grading will be based on a final exam given at the end of the semester as well as class discussion and weekly written postings on Canvas for the course.
LAW 5100 - Basic Federal Income Tax
Credits: 3.0 [max 3.0]
Course Equivalencies: Law 5100/Law 6100
Grading Basis: A-F only
Typically offered: Every Fall & Spring
This basic course in federal income taxation introduces the student to the Internal Revenue Code and the income taxation of individuals through the following topics: definition of income, relevant accounting concepts, exclusions, deductions, income splitting, sales and dispositions of property, amortization, capital losses, and current issues of tax policy.
LAW 5103 - Data Privacy Law
Credits: 3.0 [max 3.0]
Course Equivalencies: Law 5103/Law 6103
Grading Basis: A-F only
Typically offered: Periodic Fall & Spring
Every single day, the newspaper contains stories—plural intended—about data privacy and security. Whether they concern the National Security Agency, Facebook, or a data breach at a small business, the handling of personal information has become a central concern of our time. In response, a complex law of data privacy has emerged, and now it is a fast growing area of legal practice. This course will equip students to counsel clients about an array of federal, state, and international legal requirements—while also analyzing them critically and thinking about the societal challenges posed by new information technology. Assessment will include group projects and a take-home final.
LAW 5601 - International Business Transactions
Credits: 3.0 [max 3.0]
Course Equivalencies: Law 5601/Law 6601
Typically offered: Periodic Fall & Spring
International Business Transactions is a three-credit course whose main focus of discussion and study is the private law aspects pertaining to international business transactions, rather than issues of national and international trade regulation. Thus, the course is primarily concerned with private international business law. We examine three basic methods of doing business abroad, namely, the sales of goods (export) transaction, licensing and franchising, and foreign direct investment. The course materials touch upon substantive law in areas as diverse as commercial transactions and the uniform commercial code, antitrust, intellectual property, conflict of laws, civil procedure, contracts, bankruptcy, taxation, and international law. While knowledge or background in these areas is certainly helpful it is not necessary for success in the course and for dealing with the issues raised in the readings or in class.
LAW 5608 - Trademarks
Credits: 3.0 [max 3.0]
Course Equivalencies: Law 5608/Law 6608
Typically offered: Periodic Fall & Spring
This course will consider how marketers secure and enforce trademark rights. Trademarks are the indicators that consumers rely upon to determine the origin of goods and services. The course will focus on U.S. federal trademark law, but will also look at state and international trademark law as well as related areas such as false advertising, publicity rights, and cybersquatting. This course will provide a solid foundation for students interested in practicing trademark law (application, enforcement, licensing, or litigation) or more general intellectual property law. It will also be useful to attorneys who do any work with trademark-dependent industries such as retail sales, advertising, or media and entertainment. Finally and more generally, trademark law offers excellent case studies of the interaction between law, culture, and technology, and of the evolution of traditional doctrine under pressure from rapid changes in surrounding circumstances.
LAW 5613 - Copyright
Credits: 3.0 [max 3.0]
Course Equivalencies: Law 5613/Law 6613
Typically offered: Periodic Fall & Spring
Copyright subsists in original works of authorship, including literary works, music, and works of visual art. This course provides an overview of U.S. copyright law, including the requirements for copyright protection; authorship and ownership; copyright owner rights; exceptions to copyright liability, including the fair use doctrine; and duration and terminations of transfer.
LAW 5908 - Independent Research and Writing
Credits: 1.0 -2.0 [max 8.0]
Typically offered: Every Fall, Spring & Summer
Students may earn 1 or 2 credits (and in exceptional circumstances, 3 credits) for researching and writing a note, article, memo, or other paper on a legal topic. At least 3,750 words are required for one credit, at least 7,500 for two credits, and at least 11,250 for three credits. To register, the student should confer with a supervising faculty member, draft a description of the proposed project, and complete the online Independent Research form. LAW 5908 is for students who are not enrolled in the Law School, as well as MSPL candidates. Other law school degree candidates should enroll in LAW 7606 or LAW 7608 instead of LAW 5908.