Sweat Equity in an Indonesian Company: Why Effort Is Not Capital, and What Works Instead

In an Indonesian company, payment for shares must be money or an asset the company can value and receive, so personal effort cannot be paid-up capital. Sweat equity recorded as paid shares is unfunded capital, which a buyer later inherits. This sets out where an owned asset does qualify, the four lawful routes that reward effort with ownership, and the tax to price into each.