When a shareholder wants to sell their equity in a personal token, they initiate a “Secondary Sale Request” in the Network. This request specifies the number of shares they wish to sell, their asking price, and how long the offer remains valid. Similar to private companies’ Right of First Refusal (ROFR), the token holder gets the first opportunity to purchase these shares. This ensures token holders maintain influence over their cap table and prevents unwanted parties from acquiring shares. If the token holder declines to purchase the shares, other existing shareholders receive second priority to maintain alignment among current investors. The ROFR period lasts 14 days for the token holder and an additional 7 days for existing shareholders. If no existing shareholders purchase the shares during this period, the seller can either list their shares on the Network’s internal marketplace or have someone they know apply to invest. All transfers must be approved by the token holder, and shares can only be transferred to other verified users in the Network. For each completed secondary sale, a small royalty fee is charged.