Equity shares, also known as common stock, represent ownership in a company. When individuals purchase equity shares, they become shareholders and gain a claim on the company's assets and earnings. The value of these shares can fluctuate based on the company's performance and market conditions. Shareholders of equity shares may receive dividends, which are a portion of the company's profits distributed to them. Additionally, they have voting rights in corporate decisions, allowing them to influence the direction of the company. However, equity shares also carry risks, as their value can decrease if the company performs poorly.