sweez wrote on May 11
th, 2013 at 6:38am:
Companions can't use gear though, only runestones
Yes they can. They just get select slots instead of an entire gear set.
Look at your companion sheet again.
I can't figure out what the screeny hotkey is or I'd show you.
Companions get three gears slots, on the right opposite the runestone slots. The second gets unlocked at companion level 15, the third gets unlocked at level 25.
My Cleric has icon/neck/ring
My hawk has neck/ring/neck
My dog has neck/neck/ring
They can even equip gear that is still level locked by you. My hawk and my dog are both wearing a necklace that I wouldn't personally be able to equip because of level restrictions.
So it looks like everyone gets necklace and ring, while animals get another necklace and humanoids get a different variable piece probably class related.