definiens: means any corporation, company, partnership, join t venture and/or firm that controls, is controlled by, or is under common control with a sp ecified person or entity . For purposes of this Sect ion 1.2, shall be presumed to exist if one of the following conditions is met : ( a ) in the case of cor porate entities, direct or indirect ownership of at least fifty perc ent ( 50 % ) of the stock or shares having the right t o vote for the election of directors, and ( b ) in the case of non - c orporate entities, direct or indirect ownership of at least fifty percent ( 50 % ) of the equity interest with the power to direct the management and policies of such non- corporate entities . The Parties acknowledge that in the case of certain entities organized under the laws of cer tain countries outside of the United States, the maximum percentag e ownership 1 permitted by law for a foreign investor may be less than fifty percent ( 50 % ), and that in such case su ch lower percentage shall be substituted in the preceding se ntence, provided that such owner has the power to d irect the management and policies of such entity