08-29-2007, 10:53 AM
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Junior Member
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Join Date: Aug 2007
Posts: 28
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Quote:
Originally Posted by Oleg
I mean the item of the agreement. We have an agreement between parties with the next poin:
"Company Affiliate" shall mean an entity directly or indirectly controlled by or under common control with the Company where control means having power to control such entity's general activities, but only for so long as such ownership or control shall continue..."
So I try to understand what means "directly or indirectly control", "common control"...
For instance in Russia dependent company is a company shareholder of which owns more then 25% of share capital. Thus such company depends on shareholder and affiliates... etc.
Are there similar rules due to affiliated or dependent company in the USA?
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If these terms were important to my situation, I would suggest to those involved that we mutually define the terms and put them into the agreement. This way, it will be clear from the outset. I am not licensed to practice law in Nevada, but I would imagine that your definition of a dependent company is a fair one and would be binding upon those involved in a Nevada court of law.
Hope this helps.
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