Abstract. In the last few years, the semantics of Petri nets has been investigated in several different ways. Apart from the classical "token game", one can model the behaviour of Petri nets via non-sequential processes, via unfolding constructions, which provide formal relationships between nets and domains, and via algebraic models, which view Petri nets as essentially algebraic theories whose models are monoidal categories. In this paper we show that these three points of view can be reconciled. More precisely, we introduce the new notion of decorated processes of Petri nets and we show that they induce on nets the same semantics as that of unfolding. In addition, we prove that the decorated processes of a net N can be axiomatized as the arrows of a symmetric monoidal category which, therefore, provides the aforesaid unification.