You misunderstand the word theory. And you were slightly misinformed on what it is. In laymen's terms, theory is closer to idea or speciation. However, in the scientific context, a scientific theory is tells us how and why an observed phenomenon (a law) happens. A law is a description of a observed phenomenon, a theory tells us how and why. They are separate, and one does not become the other. Scientific theory is literally the highest "rank" a scientific explanation can attain.