In 1963, the first edition of "The Legal and Regulatory Environment of Business," authored by Bob Corley, initiated a focus on the legal environment in which business is conducted. Understanding the importance of having students study the public nature of how government regulates business activities, rather than simply how businesses privately make transactions, universities moved away from traditional Business Law. Fifteen editions later, Reed s "The Legal and Regulatory Environment of Business" has been the leader in setting the standard for materials that demonstrate that law is at the core of the private market and plays a crucial role in business."