601:749. BUSINESS OF LAW (2)
Designed to help students succeed in the business of law, this course explores the economics and management of law firms. It covers accounting basics, profitability, budgeting and planning. It expands into understanding how law firms are structured, how partners are compensated and the associated tax consequences. Governance and risk management of law firms is examined, as well as, more current topics such as project management and alternative pricing models. The course allows students to learn using case studies for several of the topic areas. Whether a student plans to practice in house or with a large or small law firm understanding how law firms are managed and the economics that drives how services are delivered is important in helping student achieve their career goals.