The term share denotes the legal relationship between the shareholder and the joint stock company. The share represents both a fraction of the original capital and an equity interest on the part of the shareholder. Today, the share documents both property rights (e.g. entitlement to earnings, subscription rights) and administrative rights (e.g. voting rights). The form of participation through shares was invented by the Netherlands East India Company in 1602 (East India companies). The first shares were made out …