The founding group of worker cooperatives often invests its free time, expertise and endurance, and sometimes tools or premises, in addition to its regular working hours, during the sensitive start-up or takeover phase. These intangible investments are not documented and do not generate an immediate return. The author analyses the significance of material and immaterial remuneration options for sweat equity. Based on an analysis of empirical data, the study improves our understanding of the situation of the founders and suggests ways to encourage the formation of worker cooperatives. The results contribute to the design of democratic organisations.
