When a chemical reaction takes place, chemical bonds between atoms or molecules are broken and new bonds are formed. This results in the formation of new substances with different chemical and physical properties than the reactants. The breaking and formation of chemical bonds involve the transfer or sharing of electrons between atoms or molecules, which alters the distribution of electrons in the reactants and products. The process of chemical reactions is governed by the laws of thermodynamics and kinetics, ensuring that the reactions are energetically favorable and can occur at specific rates.