Corley's Legal and Regulatory Environment of Business emphasizes public rather than private law, government regulation of business rather than contracts, and legal relationships rather than business transactions. People conduct business within a legal environment. The interest of society in protecting both commerce and individuals has resulted in many laws regulating the conduct of business. A business education would not be complete without the knowledge of these laws which serve as a compass and guide to business decisions and provide a general direction and answers to questions of what a business may or may not do.
Corley highlights the legal and regulatory environment in which people and companies conduct business activities. Other factors also influence business decisions such as economic incentives, ethical standards, and an organization's view of social responsibility. The authors want students to remember to ask themselves - what is the reason for this legal requirement and how does it interact with the other factors.
Jane P. Mallor has taught business law at Indiana University since 1976. During that time she has received many teaching awards, including the Student Alumni Council Senior Faculty Award, the Faculty Colloquium for Excellence in Teaching, and the Amoco Foundation award for Distinguished Teaching. A. James Barnes is Dean and Professor of Public and Environmental Affairs at Indiana University. He previously won a distinguished teaching award from Indiana University's School of Business. Thomas Bowers is a faculty member of Indiana University's School of Business. He has received 10 outstanding teaching awards, and is the only two-time recipient of the Indiana University Student Choice Award for outstanding teaching. Arlen W. Langvardt currently Associate Professor of Business Law at Indiana University received several teaching awards and in 1989 received the Holmes/Cardozo Award from the Academy of Legal Studies in Business.