Employee participation is an effective way of retaining talent in the long term and involving them in the company's success. But which option is more suitable: phantom shares or participation certificates? While phantom shares offer flexible, contractually regulated profit-sharing without membership rights, participation certificates are genuine equity shares with economic rights. Find out the differences, tax implications and how you can efficiently introduce participation capital in your company - including practical support from Konsento with general meetings, participation certificate registers and cap table management. Learn more now!