Bearer shares or bearer instruments are documents that give the individual that is physically in possessions of them, all rights of ownership or title. No record is kept of who owns them, who has owned them, or who will own them. This way, they are completely anonymous and there is no way to know who owns the company or structure in question. Once the bearer shares are handed to another person, they become the property of that person until they are handed over again. While bearer shares are great for those who want privacy, issues arise in terms of loss or theft. Bearer shares are not legal everywhere and some jurisdictions have taken steps to ban them or phase them out.