definiens: shall mean ( i ) any corporation o r business entity of which fifty percent ( 50 % ) or more of the sec urities or other ownership interests representing the equity, the votin g stock or general partnership interest are owned, controlled o r held, directly or indirectly, by MERCK or ISIS ; or ( ii ) any co rporation or business entity which, directly or indirectly, owns, control s or holds fifty percent ( 50 % ) ( or the maximum ownership interest per mitted by law ) or more of the securities or other ownership interests repr esenting the equity, the voting stock or, if applicable, the general partnership interest, of MERCK or ISIS ; or ( iii ) any corporation or b usiness entity of which fifty percent ( 50 % ) or more of the securities or o ther ownership interests representing the equity, the voting stock or general partnership interest are owned, controlled or held, directly or i ndirectly, by a corporation or business entity described in ( i ) or ( ii )