The concept of serving an apprenticeship as a means of training skilled workers dates to the Middle Ages. Apprenticeships in the Middle Ages and during the Renaissance were typically seven years in duration, in order to ensure that the masters recouped their investment and that the apprentice was given sufficient time to become skilled and not simply exploited as cheap labor. The experience arguably imparted not only artisan skills, but also the tacit skills needed for professional success, such as informed intuition, judgment under pressure, ease with clients, and problem-solving abilities, skills that often improve with experience. Recently, however, the apprenticeship system is reemerging as a promising model for improving job skills, particularly in the "Science, Technology, Engineering, and Mathematics" (STEM) fields. Currently, numerous Web sites match prospective interns to prospective positions. While today apprenticeships are typically paid positions, unpaid internships also provide a vehicle for developing both tacit and job-related skills. This article examines the pedagogical, legal, and ethical issues concerning unpaid internships and their implication for business education for the student, the employer, and the educational institution. The recent enforcement efforts by the Labor Department against employers that illegally fail to pay interns makes this a particularly timely discussion to guide all parties involved in internships. (Contains 179 footnotes.)