Editing Subsidiary (section)

===General===
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The word "control" and its derivatives (subsidiary and parent) may have different meanings in different contexts. These concepts may have different meanings in various areas of law (e.g. [[corporate law]], [[competition law]], [[capital markets law]]) or in [[accounting]]. For example, if Company A purchases shares in Company B, it is possible that the transaction is not subject to [[merger control]] (because Company A had been deemed to already control Company B before the share purchase, under competition law rules), but at the same time Company A may be required to start consolidating Company B into its financial statements under the relevant accounting rules (because it had been treated as a [[joint venture]] before the purchase for accounting purposes).

Control can be direct (e.g., an ultimate parent company controls the first-tier subsidiary directly) or indirect (e.g., an ultimate parent company controls second and lower tiers of subsidiaries indirectly, through first-tier subsidiaries).