Many attorneys are surprised to find that silence fills the room the first time they bring up the idea of planning an exit strategy from a joint venture.

Clients often break the silence by launching into a number of reasons to postpone planning an exit strategy. Some clients might view exit planning as presumptuous, akin to discussing divorce scenarios on a first date. Others might think that it's impossible to try to plan an exit strategy when they don't yet know if the venture is going to be a success or not. Still others are so focused on getting the project started that they say they will agree on an exit strategy at a later time.

But as most attorneys know, waiting to plan an exit strategy until one partner's departure is imminent will likely lead to hasty, emotional decisions that devalue the joint venture and each partner's share in it. It's up to legal counsel to squash their clients' objections to planning an exit strategy and help them plan ways for one or more partners to leave that will preserve the value of the joint venture. Here are some of the most common client objections to planning an exit strategy, and arguments that attorneys can use to help overcome them.