For endofunctors of varieties preserving intersections, a new description of
the final coalgebra and the initial algebra is presented: the former consists
of all well-pointed coalgebras. These are the pointed coalgebras having no
proper subobject and no proper quotient. The initial algebra consists of all
well-pointed coalgebras that are well-founded in the sense of Osius and Taylor.
And initial algebras are precisely the final well-founded coalgebras. Finally,
the initial iterative algebra consists of all finite well-pointed coalgebras.
Numerous examples are discussed e.g. automata, graphs, and labeled transition
systems
