The specific problems of private institutions concerned with faculty collective bargaining are discussed in relation to the National Labor Relations Act. Emphasis is placed on the rationale of and the implications for collective bargaining. The rationale of collective bargaining is viewed in light of the distribution of privileges, private institutions, rights granted under the National Labor Relations Act, financial straits of institutions, the force of power and administration, and organization by nonprofessional employees. Implications of collective bargaining are discussed in relation to the fiscal impact, faculty compensation, faculty governance, job security, and professionalism vs. union ideology. (MJM)