A joint venture is intended to meet a particular project with specific goals, so the venture ends when the project is complete. An exit strategy is important as it provides a clear path on how to dissolve the joint business, avoiding any drawn-out discussions, costly legal battles, unfair practices, negative impacts on customers, and any possible financial loss. In most joint ventures, an exit strategy can come in three different forms: sale of the new business, a spinoff of operations, or employee ownership. Each exit strategy offers different advantages to partners in the joint venture, as well as the potential for conflict.