subsidiary company

subsidiary company
A subsidiary company is a company that is owned or controlled by another company. When entering into a contract with a subsidiary company, it is important to establish that the subsidiary can fulfil its obligations under the contract without the support of its parent or other group companies. This is because the parent and other group companies will not be bound by the contract unless they are parties.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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