This study examines undergraduate law-based degree programs in the 404 U.S. universities with undergraduate degrees in business that had Association to Advance Collegiate Schools of Business (AACSB) accreditation in 2005. University Web sites were used to identify and compare law-based undergraduate programs inside business to law-related programs outside the college of business that were either housed in a department or were interdisciplinary programs. The primary purpose of the study is to identify the universities that have law-based undergraduate degree programs inside a college of business and to categorize those programs (1) by type of program (legal studies, business law, prelaw, or other specialization) and (2) by classification as a minor or (for the balance of the programs) by the number of law-related business courses required in the program. A second purpose for the study is to identify the disciplines with which business law faculty members are housed. The final purpose for the study is to identify other institutional factors that may have a statistical impact on whether a law-based degree program exists inside the college of business. The first section provides a structure for classifying and analyzing AACSB undergraduate university law-based programs and sets forth the basic purposes for this study. Section II distinguishes four types of law-based programs: (1) legal studies programs in business; (2) prelaw degrees; (3) "law and society" programs; and (4) law specializations within a discipline. The authors provide examples of university programs and a model of course requirements for each of the first three types of programs. Section III explains in greater detail how programs are classified and the methodology used to analyze the programs and institutional data. Section IV focuses on statistical analysis of the data. In Section V, the authors provide a descriptive analysis of several law-based programs and highlight the difficulty in classifying some of the programs as inside versus outside business. The section also examines interdisciplinary degree programs that are cosponsored or not housed in a single department. The authors also note which interdisciplinary programs include business law as a component. In Section VI, they include selected observations concerning difficulties in developing and retaining law-based programs inside business. Section VII is the conclusion, containing highlights of the results and emphasizing that legal studies programs in business should foster recognition of legal issues and minimization of associated risks, along with developing analytical skills within the context of business dynamics. (Contains 11 tables and 115 footnotes.)