Provide an IRAC-form analysis of your expected application of this course. (7 points, 1 point for each section and 2 points for overall quality of answer)

1. Facts First: Explain the professional field in of entreprenuership you expect to begin or continue your career.
2. Issue: Describe the overall legal environment for this profession. Is this a heavily regulated field or minimally regulated, monopoly or open competition, what are the typical business structures, what regulations, if any, are daily influences on the industry?
3. Rule: Cite at least one specific law studied in the course that you expect will be relevant to you in your profession.
4. Application: How will the cited rule impact you.
5. Conclusion: Is the intended impact of the rule positive or negative for the firm? It's customers? Society? If the rule has negative impact, what are your thoughts on how the impact could be improved?