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