A Practice Note discussing exit mechanisms that a joint venture (JV) party may consider to either facilitate its ability to transfer its equity interest in a JV entity or restrict another party from transferring its interest. This Note covers typical transfer restrictions, rights of first refusal (ROFR), rights of first offer (ROFO), drag-along and tag-along rights, put and call rights, and buy-sell rights and touches on other exits through a liquidity event.