Abbr.: PC. A security (registered or bearer) incorporating the right to participate in the ownership (equity) of a corporation, with some legally prescribed rights but without other rights granted to shareholders (e.g. the right to vote at shareholders' meetings). In Switzerland, participation certificates serve a similar function to dividend right certificates and are issued against cash contribution for the purpose of raising capital. As is the case with capital stock, participation certificates form part of the equity capital of a company. The minimum par value in Switzerland is CHF 0.01.