In 1963, the first edition Legal and Regulatory Environment of Business, led by Bob Corley, started a new course emphasizing the legal environment in which business is conducted. By focusing on the public nature of how government regulates business activities, rather than simply how businesses privately make transactions, a movement away from traditional Business Law began. Through its previous 12 editions, Legal and Regulatory Environment of Business by Reed, Shedd, Morehead and Corley has been the leader in setting the standard for materials covered in an introduction to the legal and regulatory environment of business.
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Lee Reed retired in 2010 as the Scherer Chair in Public Affairs and Josiah Meigs Distinguished Teaching Professor in the Terry College of Business at the University of Georgia. He continues to be active at UGA as Emeritus Professor of Legal Studies in Business. He received his Doctor of Law degree at the University of Chicago and a B.A. degree at Birmingham-Southern College. Professor Reed holds a J.D. degree from the University of Chicago. A former president of the Academy in Legal Studies in Business, he has received five national research awards for his scholarly articles and is former Editor in Chief of the American Business Law Journal. He has also testified before the Federal Trade Commission and has twice written invited introductions for The Advertising Law Anthology. Professor Reed is a frequent speaker to trade and scholarly groups on the fundamental importance of the rule of law and property to the private market system.
Peter Shedd is the University Professor Emeritus of Legal Studies in the Terry College of Business at the University of Georgia where he received his B.B.A. and J.D. degrees. He also has been a Visiting Professor in the Ross School of Business at the University of Michigan and the Warrington College of Business at the University of Florida. Professor Shedd has extensive experience as a teacher, researcher, administrator, and author of business-related texts. His teaching of undergraduate and MBA courses has earned Professor Shedd numerous teaching awards including being named a Josiah Meigs Distinguished Teaching Professor. Professor Shedd is an active member of the Academy of Legal Studies in Business and its Southeastern Regional. He served as national president during 19992000. Professor Shedd is a member of the State Bar of Georgia and is an experienced arbitrator and mediator.
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