A method for manufacturing a security element with negative writing for a security paper or an object of value, in particular a value document, having the following steps of: a) manufacturing a first security-element partial element by a1) making available a first transparent or translucent carrier substrate, a2) applying a first functional layer to the first carrier substrate or to a previously applied intermediate layer, a3) applying a resist layer to the first functional layer in the form of a predetermined pattern with resist regions and gaps between the resist regions, b) manufacturing a second security-element partial element by b1) making available a second carrier substrate, b2) applying a second functional layer to the second carrier substrate or to a previously applied intermediate layer, c) joining the first and the second security-element partial elements to form a composite such that the resist layer and the second functional layer face each other, and bonding the first and the second security-element partial elements, preferably under elevated pressure and at elevated temperature, d) separating the second carrier substrate from the bonded composite, wherein the second functional layer remains adhering to the resist regions while forming second functional regions, whereas the remaining regions of the second functional layer are separated together with the second carrier substrate, whereby second gaps are formed in the second functional layer, and e) removing the regions of the first functional layer not protected by resist regions by means of etching, in order to form first functional regions and first gaps therebetween, which, together with the gaps in the resist layer and the second gaps, form the negative writing in the second functional layer consisting of an etching-resistant material. a) manufacturing a first security-element partial element by a1) making available a first transparent or translucent carrier substrate, a2) applying a first functional layer to the first carrier substrate or to a previously applied intermediate layer, a3) applying a resist layer to the first functional layer in the form of a predetermined pattern with resist regions and gaps between the resist regions, a1) making available a first transparent or translucent carrier substrate, a2) applying a first functional layer to the first carrier substrate or to a previously applied intermediate layer, a3) applying a resist layer to the first functional layer in the form of a predetermined pattern with resist regions and gaps between the resist regions, b) manufacturing a second security-element partial element by b1) making available a second carrier substrate, b2) applying a second functional layer to the second carrier substrate or to a previously applied intermediate layer, b1) making available a second carrier substrate, b2) applying a second functional layer to the second carrier substrate or to a previously applied intermediate layer, c) joining the first and the second security-element partial elements to form a composite such that the resist layer and the second functional layer face each other, and bonding the first and the second security-element partial elements, preferably under elevated pressure and at elevated temperature, d) separating the second carrier substrate from the bonded composite, wherein the second functional layer remains adhering to the resist regions while forming second functional regions, whereas the remaining regions of the second functional layer are separated together with the second carrier substrate, whereby second gaps are formed in the second functional layer, and e) removing the regions of the first functional layer not protected by resist regions by means of etching, in order to form first functional regions and first gaps therebetween, which, together with the gaps in the resist layer and the second gaps, form the negative writing in the second functional layer consisting of an etching-resistant material.