Given that there are no owners, to the employees seems reasonable. With shares eliminated like this, we can have a such a system.

Perhaps through some kind of all employee profit sharing system that all the employees agree on. Alternatively, if there has to be ownership, ownership of the company can be split between all employees, and the profits shared amongst them accordingly.

I should divulge that by HN standards I am a screaming commie. I think unions are a good idea, and I think inheritance tax should be pretty much 100%. I'm not necessarily in favour of this employee-owners profit redistribution system, but it's an answer to the question of where profits should go if there are no rentier shareholders.

>Given that there are no owners, to the employees seems reasonable

By what standard? Does a new employee get the same percentage as every other employee? If so, how is that fair when certain positions objectively have much more impact on the success of the company? If not, who decides allocations for new employees and who the allocations should come from?

Also, who is going to put up the capital in the first place to start the business if there is no return?

These are all questions that have answers. Such companies do already exist in Western liberal democracies operating roughly capitalist economies. You can find these answers yourself if you choose to. You can probably even think of some ideas yourself. We don't have to accept the economic system we are told is the one true way. We've seen where treating the economy like a religion leads.

If there were reasonable answers, you would have provided them. The reason you haven't is because they generally aren't sustainable and do not work. If they did, that model would quickly take over because employees would exclusively seek out companies where they are granted ownership without any capital commitment.

Companies do exist that are owned by their employees, and yet people do also get jobs at other companies that are not owned by the employees.

These facts would appear to contradict your statements.

I would only agree on inheritance tax if you simultaneously maintain quality free public education and social lifts.