Upon successful completion of the course, students will be able to identify sources of law in the United States; describe the function and role of courts in the U.S. legal system; differentiate litigation from methods of alternative dispute resolution, and discuss the process of each; list the elements of the major torts; list the essential elements of a valid contract; describe how a contract can fail; summarize the remedies available for breach of contract; distinguish between real and personal property; identify the various interests in real property and how they pass; identify the requirements to hold various rights under intellectual property laws; analyze the impact of the digital era on intellectual property rights; distinguish between at-will employment and contractual employment; identify laws that generally regulate the employer-employee relationship; identify criminal acts related to the business world; define and identify examples of white collar crime; describe the various forms of business organization; identify the major laws regulating business in the United States; identify major ethical concerns in business today; distinguish between Aristotle's ethical theory, utilitarianism, and Kant's ethical theory; distinguish Aristotle and Kant's ethical theories, and utilitarianism, from cultural relativism and nihilism; and analyze case studies that illustrate ethical dilemmas in business ethics.