definiens: shall mean any corporation, company, partnership, joint venture or firm which controls, is controlledby, or is under common control with a specified person or entity . For purposes of this Section 1.4, shall bepresumed to exist if one of the following conditions is met : ( a ) in the case of corporate entities, direct or indirectownership ofat least fifty percent ( 50 % ) of the stock or shares having the right to vote for the election of directors, and ( b ) in thecase of non - corporate entities, direct or indirect ownership of at least fifty percent ( 50 % ) of the equity interest with thepower to direct the management and policies of such non - corporate entities . The Parties acknowledge that in the caseof certain entities organized under the laws of certain countries outside of the United States, the maximum percentageownership permitted by law for a foreign investor may be less than fifty percent ( 50 % ), and that in such cases suchlower percentage shall be substituted in the preceding sentence, provided that such foreign investor has the power todirect the management and policies of such entity