This is not the case. Legally, a share can be issued in different ways, so-called packaging. The rights themselves are not tangible, i.e. immaterial. These rights can, for example, be printed (“embodied”) in a deed and notarised (“securitised”). However, physical deeds are no longer in keeping with the spirit of the times. In Switzerland today, a share register (“simple uncertificated securities”) or a token (“registered securities”) is more common. Link to the Swiss Code of Obligations