In this presentation we playfully theorizing the concepts of work and loyalty. It is not unusual to see these concepts related to each other in different ways – loyalty in the workplace and in organizations is a well known phenomenon. But here we intend to take one step further: we explore the possibilities for treating work and loyalty as synonymous. In our previous research we have defined loyalty as a ”binding to something specific”. This binding can exist in many different forms - for example in negative form (as absence of disloyalty), and in positive form (loyalty in form of presence – as emotions and commitment). We have identified six forms of positive loyalty. Vertical-involuntary loyalty, vertical-voluntary, horizontal-involuntary, horizontal-voluntary. Among the positive loyalty forms we also find two forms of self-loyalty – voluntary and involuntary. In our playful theorizing with the two concepts we look for interesting etymological similarities between the words and concepts. One similarity concerns ”legal” aspects of both concepts. Loyalty has roots in the french word ”loi”, and in some definitions of ”work” there is a notion of work as ”legal fulfilment”. In our playful way of theorizing we continue our effort to practice a ”conceptual archaeology” and thereby use some older nearly forgotten research about both work and loyalty. But we also make some important connections to new research. Methodologically we are inspired by Richard Swedberg´s approach of theorizing. Also Karlsson and Bergman´s ideas about the importance of theorizing have influenced us.