Traditional methods for teaching negotiation have required both instructor and student to be physically present in the same location. With the advent of the Internet and associated technological advances, however, instructors may now transcend geographical barriers and effectively deliver the same content virtually. In this article, we present an exploratory study comparing two masters‐level negotiation courses: one taught using a traditional in‐person method and the other taught online. Results showed no significant difference in knowledge acquisition as quantified by objective measures, including mean grades. In addition, self‐report data indicate that, although students' skill and mastery of negotiation improved in both courses, online students reported that they experienced less interaction and social engagement with their classmates and instructor. Several course development strategies and best practices are discussed.