What is the legal definition of affiliated?
What is the legal definition of affiliated?
Affiliates are business concerns, organizations, or individuals that control each other or that are controlled by a third party. Control may consist of shared management or ownership; common use of facilities, equipment, and employees; or family interest.
What is an affiliate in an agreement?
An affiliate marketing agreement is a contract between a business and an individual or company who agrees to market or promote the business in exchange for a commission amount. According to corporate law and taxes, an affiliate is defined as a company that is related to another company often in a subordinate role.
What is an affiliate according to SBA?
According to the SBA website, affiliation exists when a company controls or has the power to control another or when a third party (or parties) controls or has the power to control both businesses when selling products or services to the government.
What is the difference between a subsidiary and an affiliate?
A subsidiary is a company whose parent company is a majority shareholder that owns more than 50% of all the subsidiary company’s shares. An affiliate is used to describe a company with a parent company that possesses 20 to 50% ownership of the affiliate.
What’s the difference between affiliate and subsidiary?
Is a spouse an affiliate?
Spouse and Children s152-47 ITAA 97 can deem spouses and children under 18 to be affiliates. It increases access to the concessions in a wider range of situations than the application of s328-130 would.
Why is it better to have a subsidiary than an affiliate?
A subsidiary is a company whose parent company is a majority shareholder that owns more than 50% of all the subsidiary company’s shares. Owning an affiliate or subsidiary can allow a company to extend its market share into parts of the world which it otherwise would not have access to.
Which is an example of an off premises contract?
An off-premises contract is one which there is either: (a) A contract made in the simultaneous presence of the trader and the consumer, in a place which is not the business premises of the trader;
What is an affiliate clause in a contract?
Other contracts require parties to make representations and warranties not only about themselves but about their affiliates as well (for example, some merger agreements). This sample clause is a fairly typical definition of affiliate, mirroring definitions found in U.S. securities laws such as Rule 501 (b) of SEC Regulation D, 17 CFR § 230.501 (b).
Do you have the right to cancel an off premises contract?
The Regulations give you the right to cancel an off-premises contract at any time and for any reason within the cancellation period. You also have the right to withdraw your offer to buy before the contract is made.
What does it mean to be an affiliate of a party?
[UPDATE 2012-09-12: See the sample language and annotations for this definition.] Some contracts give “affiliates” of parties some of the same rights and/or obligations as the parties themselves (for example, some license agreements).