The closest parallel to an equity structure would probably be to the employee-owned cooperative firms that exist in some jurisdictions. A crucial difference from startups is that equity is not tradable, not available to non-working investors, and cannot be taken with you if you leave the firm. Rather than owning securitized shares, you definitionally are entitled to a share of profits while working at the company; and everyone is entitled to the same share. So, for example, if there are 10,000 employees, you have a 1/10,000 claim on any dividends. If you leave the company, you no longer own shares. And there is no way to buy shares; cooperatives will generally only accept investment on bond or loan-like terms, not equity terms.