Is there a statutory or common law definition of 'affiliate'?

Subsidiaries.Although European company directives have defined the concept of a company’s subsidiary (and an affiliate) in clear terms, often large transaction agreements nevertheless provide for a contractual definition.A common definition that meets the EU directive’s definition: Affiliates Law and Legal Definition. Affiliates fall into two categories. For corporate law and taxes, when a company is under the same umbrella as another company, whether as a member or subordinate, that company is deemed an affiliate. Two companies may fall under one umbrella if an affiliate is less than 50 percent owned by the parent company. Key Difference – Affiliate vs Associate Affiliate and associate are two words that often go together although there is a difference between the two words. Both affiliate and associate can be used as nouns as well as verbs. Mainly affiliate refers to being linked or connected to an individual or an organization. Definition of Affiliate. For purposes of this Agreement, “Affiliate” shall mean, as to any individual, corporation, partnership, limited liability company, association, trust, unincorporated entity or other legal entity (each a “Person”), any other Person that directly, or indirectly through one or more intermediaries, controls, is controlled by, or under common control with such Person. As nouns the difference between affiliate and associate is that affiliate is someone or something that is affiliated, or associated; a member of a group of associated things while associate is a person united with another or others in an act, enterprise, or business; a partner or colleague. As verbs the difference between affiliate and associate is that affiliate is to adopt; to receive into a

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