Yes, selling shares in your business definitely requires very detailed legal help. The Securities and Exchange Commission (SEC) has strict rules related to selling shares.
Question added to topic Money • September 11, 2007
Do I need a lawyer to sell percentages of my company and set up a formula for how my investors get?
We've been in the clothing business as a side project for 3 years. We are in 40 stores and are growing rapidly. Until this time we have funded everything ourselves however we are looking to sell a small percentage of the company to raise the capital it will take to grow our business. It will lower some of our debt and be beneficial in a lot of ways. We have numerous people interested however I am hesitant to pull the trigger on getting anyone else involved in this crazy business, especially friends. Are there any books that you guys reccomend?