This article presents a new contract negotiation and drafting exercise designed for undergraduate and graduate business students in a business law or legal environment of business survey course. Structured as an asset purchase and sale agreement involving a small business with intangible social media and intellectual property assets in a cross-border setting, this exercise introduces business students to the fundamentals of real-world deal-making in the digital and global age through an intensive experiential role-play exercise. It provides students with an opportunity to enhance negotiation and conflict resolution skills, gain transactional competence and comfort with essential aspects of contract law, hone problem-solving and writing skills, and develop the ability to recognize and mitigate legal issues in international business. The results of data gathered from current students through anonymous surveys and unsolicited feedback from recent alumni following implementation of this exercise indicate that it has been both well received and educationally effective.