Finance

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?
Opinions expressed by Entrepreneur contributors are their own.
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.

Tim
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