Employees contribute a portion of their earnings over time toward purchasing shares of the company's stock from the founder until they own the company outright.This is a characteristics of a(n):

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This is a description of an Employee Stock Ownership Plan (ESOP), where employees are able to acquire ownership of shares in their company over time through their contributions. A leveraged buyout involves borrowing large amounts of money to acquire a company, a sale for cash plus a note involves the buyer paying a portion of the purchase price upfront and agreeing to pay the remaining amount over time, and there is no such thing as an "ESPO."

Employees Contribute a Portion of Their Earnings Over Time Toward