Labs
Who owns the asset?
A token, a legal claim, and an underlying asset are different things. Explore the connections.
Illustrative structures, not a legal assessment of a real product. Rights depend on documents, jurisdiction, and the complete holding chain.
The company issuing the share.
An intermediary may safeguard records or securities; its role does not replace the issuer.
The investor is recorded as shareholder in the relevant register or recognized holding system.
The issuer follows share terms and applicable shareholder rights; dividends are not guaranteed.
What can the holder claim?
Registered shareholder rights, subject to applicable law and share terms.
Who holds the underlying?
The investor is recorded as shareholder in the relevant register or recognized holding system.
What can break?
Corporate insolvency can wipe out equity. Records, intermediary arrangements, and jurisdiction affect recovery.
What does the investor own in this scenario?
Learning outcome: distinguish direct ownership, a fund interest, a custodial claim, and synthetic exposure.
Even a direct share does not imply a right to redeem the company’s assets on demand. Every structure needs document-level verification.