Bridging the Gap: Teaching Law Students the Language of Business

How Professor Leah Teague’s Business Basics for Lawyers Course Prepares Students for the Financial Realities of Legal Practice

When Professor Leah Teague launched Business Basics for Lawyers at Baylor Law School two years ago, she had a clear mission: to prepare law students to meet the practical demands of modern legal practice, starting with the language of business.

“Many of our students come to law school with no background in business,” Teague explains. “But whether they end up in corporate law, family law, making partner in a firm, or running a solo practice, they’re going to encounter financial statements, valuation issues, and strategic decisions. This course gives them a foundation to engage with those topics confidently and competently.”

The course, a two-credit elective now offered each fall and spring, tackles traditionally intimidating topics—accounting, finance, economics, strategic planning and operations, and business valuation—and makes them approachable through real-world application. Students complete hands-on projects such as preparing financial statements, assessing options for a real estate acquisition, evaluating the performance of a law firm, modeling the costs and benefits of law office expansion, and developing a marketing strategy for a future law practice they can envision themselves building.

Teague emphasizes that the goal isn’t to turn law students into accountants. “It’s about fluency,” she says. “I want them to be able to talk to their clients, understand what’s at stake financially, and collaborate with experts. Lawyers don’t have to do the math—but they do have to understand the implications.”

She soon discovered that students with business backgrounds were also eager to take the class—some to reconnect with familiar concepts, and others to explore how their business knowledge could give them a competitive edge in the legal profession. To serve both groups effectively, Teague now offers two sections: one for students with business degrees or real-world experience, and another for those starting from scratch. “Everyone covers the same material,” she explains, “but the pacing and level of support differ. My goal is for every student to feel challenged, stay engaged, and never feel lost.”

Guest speakers play a key role in bringing the material to life. Practicing attorneys and business professionals—many of them Baylor Law alumni—visit the class to discuss how financial and business issues intersect with their legal work. Topics include advising startups, handling mergers and acquisitions, serving as general counsel, managing law firms, and valuing personal injury claims.

“The guest lecturers are a favorite part of the course,” says Teague. “They show students how these concepts matter in real practice—not just in textbooks.”

What do students walk away with? According to Teague, they gain a practical toolkit: the ability to read and interpret financial documents, assess value, understand law firm operations and key performance indicators, and navigate regulatory requirements for business clients. Just as importantly, they gain confidence. “Students begin to see how they can add value for their clients, build a book of business, advance within their organizations, and approach their careers with the mindset of a business owner and entrepreneur,” she says.

“My favorite feedback from students is when they say, ‘I never thought I could understand this, but now I do,’” Teague reflects. “That’s what makes it worthwhile—helping them realize they’re capable of mastering what once felt out of reach.”

For future lawyers who want to be not just legal advisors but strategic partners to their clients, Business Basics for Lawyers is proving to be a helpful addition to the curriculum.

To learn more about the course, contact Professor Leah Teague at Baylor Law School.