Employment law is a "must-cover" subject in business environment courses. Comparing the plethora of topics requiring coverage with the limited time devoted to employment law during a typical academic term, other important employment subjects--such as negotiation and collective bargaining--commonly receive short shrift. This article offers a creative solution designed to cover these oft-omitted topics with maximum effectiveness and within a brief period of time. The author discusses an exercise that utilizes a student-led collective bargaining negotiation as a vehicle to: (1) cover management and labor issues within the professional sports environment (specifically, the National Hockey League Lockout of 2004-05) and apply lessons to the broader workplace; (2) teach valuable negotiation techniques; and (3) provide insight into an interesting, formidable, and real-world business issue. The author proceeds by describing laws governing the collective bargaining process and categorizing and analyzing four hot-button issues in contemporary collective bargaining negotiations. Then, the author focuses on negotiation by identifying and discussing the six primary stages of a typical collective bargaining negotiation--including specific examples from the professional sports context. Next, the author introduces the National Hockey League (NHL) and its labor history and addresses the pertinent events leading to the 2004-05 lockout. He also demonstrates the negotiation exercise by running through the activity in step-by-step detail. Finally, the author summarizes the resolution to the real-world lockout and presents ideas for applying the exercise to other professional sports dealing with expiring collective bargaining agreements (CBAs). (Contains 153 footnotes.)