In entrepreneurship and strategic management an "exit strategy" or "exit plan" is a way to transition the ownership of a company to another company (e.g. through a merger or acquisition), to investors (e.g. through an Initial public offering) or to the owner's children or family. Other types of exit strategies include management buyouts and employee buyouts. Winding up a company, whether through a bankruptcy or voluntary dissolution, is also an exit strategy. Bringing on board strategic or financial partners may be considered a form of exit, albeit a partial exit, as it may help ensure succession and survival of the business.