definiens: shall mean any corporation, company, p artnership, joint venture and/or firm thatcontrols, is controlled by, or is under common cont rol with a specified person or entity . For purposes of this Section 1.1, shall be presumed to exist if one of the following conditions is met : ( a ) in the case of cor porate entities, direct orindirect 1ownership of more than fifty percent ( 50 % ) of the s tock or shares having the right to vote for the ele ction of directors, and(b ) in the case of non - corporate entities, direct o r indirect ownership of more than fifty percent ( 50 % ) of the equity interestwith the power to direct the management and policie s of such non - corporate entities . The Parties ackno wledge that in the caseof certain entities organized under the Laws of cer tain countries outside of the United States, the ma ximum percentageownership permitted by Law for a foreign investor m ay be less than fifty percent ( 50 % ), and that in su ch case such lowerpercentage shall be substituted in the preceding se ntence, provided that such owner has the power to direct the managementand policies of such entity