{
 "@context": "https://schema.org",
 "@type": "DefinedTerm",
 "@id": "https://wulfkaal.github.io/entities/exit",
 "identifier": "kaal:entity:exit",
 "name": "Exit",
 "termCode": "exit",
 "inDefinedTermSet": {
  "@id": "https://wulfkaal.github.io/entities/index.json"
 },
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
 "dateModified": "2026-07-29",
 "canonicalForm": "https://wulfkaal.github.io/entities/exit.md",
 "sha256": "36751efd7d361d7a65530a2d228908564b3cc5083b59c38ee5f3405768656934",
 "additionalProperty": [
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   "@type": "PropertyValue",
   "name": "status",
   "value": "derived"
  },
  {
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   "name": "claim_count",
   "value": 2
  },
  {
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   "name": "work_count",
   "value": 2
  },
  {
   "@type": "PropertyValue",
   "name": "year_span",
   "value": [
    "2017",
    "2019"
   ]
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  }
 ],
 "subjectOf": [
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3017612-012",
   "identifier": "kaal:claim:3017612-012",
   "text": "Shareholder agreements matter more in closely held corporations because minority holders have sunk substantial time or capital into the enterprise yet cannot exit through sale, since their shares lack a ready market.",
   "abstract": "Minority shareholders in a closely held corporation are likely to have invested substantial time or capital in the enterprise, but those dissatisfied with the corporation's operation cannot sell their shares easily because the shares are not readily marketable.",
   "citation": "Wulf A. Kaal, Shareholder Agreements - National Report of the United States of America (2017). SSRN: https://ssrn.com/abstract=3017612",
   "datePublished": "2017",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "closely held corporations",
    "dissatisfied minority shareholders"
   ],
   "source_pdf_sha256": "33821db406f92efbe1698fbaed37687595c13b7ce5463b4a879df679fd4af1ac",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3409548-033",
   "identifier": "kaal:claim:3409548-033",
   "text": "The legacy private investment fund model delays liquidity: the investment process is long, complex and time intensive and leads up to a very late liquidity event in the form of an IPO or acquisition, which is why funds seek the early liquidity cryptocurrencies provide.",
   "abstract": "In the existing legacy business for private investment funds, the investment process is subject to long, complex, and time intensive processes leading up to a very late liquidity event in the form of an IPO or acquisition.",
   "citation": "Kaal, Financial Technology and Hedge Funds (2019). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3409548",
   "datePublished": "2019",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "private investment funds investing in blockchain start-ups"
   ],
   "source_pdf_sha256": "74227ab2656b06bfe4a29c942fc2ba26df9f476917e0a9f85ec038b8c3402c40",
   "status": "current"
  }
 ],
 "description": "2 claims in the published works of Wulf A. Kaal carry the concept tag 'exit'. Derived node: a roster, not an adjudicated definition."
}