A more thorough explanation:

Equitable ownership is a legal concept that applies to corporate and commercial law. It means that if someone has enough control over a company, they can be considered an owner of that company, even if they don't actually own any shares.

For example, let's say that John is the CEO of a company. Even though he doesn't own any shares in the company, he has a lot of control over how the company operates. He makes decisions about hiring and firing employees, setting salaries, and deciding which projects the company will work on. Because of this control, John could be considered an equitable owner of the company.

Another example might be a situation where a group of investors pool their money together to buy a controlling interest in a company. Even though each individual investor might not own enough shares to be considered a shareholder, together they have enough control over the company to be considered equitable owners.

Overall, equitable ownership is a way to recognize that ownership of a company isn't just about who owns shares. It's also about who has the power to make decisions and control the company's direction.