definiens: shall mean any perSO : l, partnership, joint vO : lturc, Emited liability company, corporation 01 ' other legal entity recognized in the world, including but noi limited to subsidiaries, now or hereafter existing, in which a Party is directly or indirectly owned or Gontrollcd by, und ~ r common ownership or control with, or tea ! owns or t;ontmls the subject Party . For purposes of th : s paragraph, or means direct or indir:;d ow::.ership or eoetrol or : ( a ) at lew,, ! tifty percent ( 50 % ) of the Qutst'lndmg shares or securities enhtled to vote fo : the election of directors or similar managing auth01ity or the subject entHy . it ' such cntjty has voti!1 g shares or stock or other votiug securities ; ( b ) at least fifty percent ( 50 % ) of the ownership interest representing the right to make thr ; : decisions for the subject entity, if such entity docs not have voting ; ; hares or stock or other voting sec : dtics ; or 56 ( c ) any other ability or power to elect at least one - half ofihe board of director$ or similar managing authority of the subject entity, whether by contract or otherwise