Business Law, also known as Commercial Law or Corporate Law, deals with the relationships between corporations and other commercial entities. This subfield is concerned with such related fields as shipping, corporate responsibility, regulation, and tax. Many universities give their dedicated Corporate Law courses an international element, catering to those lawyers who seek to work with transnational corporations. An MA, LLM or MCL in Corporate Law is tailored to those legal professionals and students who wish to work in or study the dynamic and lucrative world of global commerce. As with the LLM, it is normally required for students seeking to begin a Masters in Business Law to already have an academic or professional qualification in Law.