The terms ∆𝐻 '($) and 𝑇∆𝑆 '($) represent the differences in enthalpy and entropy of the binding of the ligands which are nearest-neighbor independent, while the ∆𝐻 #$%& , 𝑇∆𝑆 #$%& , ∆𝐻 *+ , and 𝑇∆𝑆 *+ terms vary based on the identities of the four nearest neighbors of the nanocrystal grid point and represent the collective effects of the nearest neighbors on the adsorption energy. The terms denoted ∆𝐻 *+ and 𝑇∆𝑆 *+ represent a phase transition and these terms were used for fitting the data from the stearate capped indium phosphide quantum dots, such that if the exchange involved four organic ligands in the nearest neighbor positions the term would be included. The probability of the exchange occurring is given by the Boltzmann factor, such that if the Gibbs free energy of exchange is negative, the exchange occurs, while if the Gibbs free energy of exchange is positive the exchange may not occur.