Harvard Law School (also known as Harvard Law or HLS) is one of the professional graduate schools of Harvard University, located in Cambridge, Massachusetts. Founded in 1817, it is the oldest continually-operating law school in the United States and is generally considered to be one of the most prestigious in the world. The school is tied with Stanford Law School for second on the rankings published by the U.S. News & World and Report, behind only Yale Law School. Its acceptance rate was 15.4% in the 2013–14 admissions cycle, and its yield rate of 66.2% was the second-highest of any law school in the United States, again behind Yale. It is ranked first in the 2016 QS World University Rankings. Harvard Law admitted 16.5% of applicants in its most recent class, compared to 9.2% at Yale and 11.2% at Stanford.