The final step is to realize value by selling some or all of your stock either in a trade sale or to public market investors if you have done an IPO.

如果你把企业做到了上市，最后一步就是把你的部分或全部股票，通过同行买卖或卖给公共市场投资者实现其价值。

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In July, Hawaii became the first state in the U.S. to ban the sale, trade and possession of shark fins.

7月，夏威夷成为美国第一个禁止出售、交易和持有鱼翅的州。

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About two-thirds of those went by outright sale, by financial speculation, in now a growing huge American business of the domestic slave trade.

大约有三分之二的人都被,金融投机所买断,被投入一个日益庞大的,国内奴隶贸易的美国商业市场

耶鲁公开课 - 美国内战与重建课程节选

The Ugly : The trend on time from founding to trade sale looks painful.

FORBES: Biotech M&A in 2012: The Good, Bad, and Ugly

Mr Messer, with an eye to the future, insisted on an option to buy the company outright after three years, although most people thought that a trade sale or even a stockmarket flotation was more likely.

ECONOMIST: Face value

The original start-up dream was to work like crazy, bring in angel investors and venture capitalists to productise the new technology and finance growth, before exiting a sizeable company via an initial public offering (IPO) or trade sale.

BBC: Viewpoint: The start-up fuelled path to recovery