Owners can be anonymous shareholders who don't contribute any work, but speculate on the ability of the business to generate capital gains for them

shareholder contribute money to a company from the fruits of their labors elsewhere...ie they are contributing work, in the form money from labors in other areas.
(Speculation can lose money, as well as win..)

While it is true that owners can do some of the work, they utlimately hold the economic privileges that determine how the profits are going to be divided

...and all the capital risk.

80% of entrepreneurs will fail in their business within the first 18 months....they can lose everything.

They also have that 'privilege', which people seem to forget..

(and how much economic rent is to be collected in the first place). That leaves scope for exploitation, though it doesn't guarantee exploitative behaviour.

The market (in a free one) decides.
In a non regulated markets - exploitative behavior will soon be punished.

I'm fully in favour of people profiting from the work that they do, so long as it doesn't harm others.

Me too!

happy christmas!