An entity (e.g., a corporation) in which another entity has a controlling share.
Definition from Nolo’s Plain-English Law Dictionary
A corporation or other limited liability entity that operates under the legal authority of a larger "parent" corporation. Typically, a parent corporation owns a controlling interest in the shares of a subsidiary corporation, giving the parent the votes necessary to control who is appointed to the subsidiary's board of directors.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:25 pm