Complex sentence: A parent company is a company that owns enough voting stock in another firm to control management and operation by doing and influencing or electing its board of directors; the second company being deemed as a subsidiary of the parent company.
Split into simpler sentences: A parent company is a company that owns enough voting stock in another firm to control management and operation by doing and influencing or electing its board of directors. The second company being deemed as a subsidiary of the parent company.