The principle that all those employed in a firm should have a say in how it is run. This can take various forms. In cases where capital requirements are relatively small, it is possible that a firm can be owned by those who work in it. In this case the workers can elect the directors and managers, and control all decisions taken. In cases where too much capital is required for this to be possible, or where the workers do not want to accept the risks involved in being owners, they can have a share in decisions, electing some directors. Alternatively, the actual direction of a firm can be by managers appointed by its owners, but workers can be consulted about decisions, either through works councils elected by the employees, or through their trade unions.