Than I don't really get the idea. Could you elaborate?

• As far as I understood, the company's shares belong to the employees ("everyone gets a seat on the board") and those elect a director which in turn organises the work structure, assigns roles etc. Correct?
• Can he be replaced at all times?
• How is the compensation of the employees determined?
• How are employees handled which are not performing their duties?
• Can employees be fired?
• How can employees join and leave the company?
• Do they return their shares on leaving?
• Can they buy and sell their shares?
• How do new employees get their shares? Are they assigned or bought?
• How is capital raised for large long-term investments like a new machine?
• If the employees bring up the capital, do they get interest?
• What if no capital can be raised? Is the company terminated?
• Can some employees put in more capital than others?
• Is the financial gain distributed equally between the employees?