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25-680: Victor Entertainment, Inc. ( ビクターエンタテインメント株式会社 , Bikutā Entateinmento kabushiki-gaisha ) is a subsidiary of JVCKenwood that produces and distributes music, movies and other entertainment products such as anime and television shows in Japan . It is known as JVC Entertainment in countries where Sony Music Entertainment operates the RCA Victor label. Listed alphabetically by group or first name. Names are in Western order (given name, family name). Subsidiary The subsidiary can be

50-405: A corporate , although this term can also apply to cooperating companies and their subsidiaries with varying degrees of shared ownership. A parent company does not have to be the larger or "more powerful" entity; it is possible for the parent company to be smaller than a subsidiary, such as DanJaq , a closely held family company, which controls Eon Productions , the large corporation which manages

75-642: A company (usually with limited liability ) and may be a government-owned or state-owned enterprise . They are a common feature of modern business life, and most multinational corporations organize their operations in this way. Examples of holding companies are Berkshire Hathaway , Jefferies Financial Group , The Walt Disney Company , Warner Bros. Discovery , or Citigroup ; more focused companies include IBM , Xerox , and Microsoft . These, and others, organize their businesses into national and functional subsidiaries, often with multiple levels of subsidiaries. Subsidiaries are separate, distinct legal entities for

100-487: A definition that provides that "control" is "the capacity of an entity to dominate decision-making, directly or indirectly, in relation to the financial and operating policies of another entity so as to enable that other entity to operate with it in pursuing the objectives of the controlling entity". This definition was adapted in the Australian Corporations Act 2001 : s 50AA. Furthermore, it can be

125-498: A different requirement regarding installation media from Direct OEMs. While a clean retail media of Windows can be installed and activated on these devices with OEM keys (most commonly using the SLP key that's embedded in to the system firmware already), actual OEM recovery media that was created by the PC manufacturer (not system-builder, nor retail Windows versions) typically only works on

150-404: A joint arrangement (joint operation or joint venture) over which two or more parties have joint control (IFRS 11 para 4). Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. The Companies Act 2006 contains two definitions: one of "subsidiary" and

175-432: A judgment against the parent if they can pierce the corporate veil and prove that the parent and subsidiary are mere alter egos of one another. Thus any copyrights, trademarks, and patents remain with the subsidiary until the parent shuts down the subsidiary. Ownership of a subsidiary is usually achieved by owning a majority of its shares . This gives the parent the necessary votes to elect their nominees as directors of

200-462: A subsidiary undertaking, if: The broader definition of "subsidiary undertaking" is applied to the accounting provisions of the Companies Act 2006, while the definition of "subsidiary" is used for general purposes. In Oceania , the accounting standards defined the circumstances in which one entity controls another. In doing so, they largely abandoned the legal control concepts in favour of

225-486: A useful part of the company that allows every head of the company to apply new projects and latest rules. OEM An original equipment manufacturer ( OEM ) generally refers to a company that produces parts and equipment that may be marketed by another manufacturer. However, the term is ambiguous, with several other common meanings. It sometimes means the maker of a system that includes other companies' subsystems, an end-product producer, an automotive part that

250-435: A variety of manufacturers ( Dell , HP , ASUS , Acer , Lenovo , Wistron , Inventec , Supermicro , Compal Electronics , Quanta Computer , Foxconn , Pegatron , Jabil , Flex , etc.). These OEMs commonly use a procedure known as System Locked Pre-installation , which pre-activates Windows on PCs that are to be sold via mass distribution. These OEMs also commonly bundle software that is not installed on stock Windows on

275-471: Is a popular example of a company that issues its Windows operating systems for use by OEM computer manufacturers via the bundling of Microsoft Windows . OEM product keys are priced lower than their retail counterparts, especially as they are purchased in bulk quantities, although they use the same software as retail versions of Windows. They are primarily for PC manufacturer OEMs and system builders, and as such are typically sold in volume licensing deals to

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300-1002: Is a subsidiary/child company of the ultimate parent company, while a second-tier subsidiary is a subsidiary of a first-tier subsidiary: a "grandchild" of the main parent company. Consequently, a third-tier subsidiary is a subsidiary of a second-tier subsidiary—a "great-grandchild" of the main parent company. The ownership structure of the small British specialist company Ford Component Sales, which sells Ford components to specialist car manufacturers and OEM manufacturers, such as Morgan Motor Company and Caterham Cars , illustrates how multiple levels of subsidiaries are used in large corporations: 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

325-418: Is manufactured by the same company that produced the original part used in the automobile's assembly, or a value-added reseller . When referring to auto parts, OEM typically refers to the manufacturer of the original equipment, that is, the parts which are then subsequently assembled and installed during the construction of a new vehicle. In contrast, aftermarket parts are those made by companies other than

350-497: 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

375-473: Is tied to the PC motherboard which it is initially installed on, and there is typically no transferring the key between PCs afterward. This is in contrast to retail keys, which may be transferred, provided they are only activated on one PC at a time. A significant hardware change will trigger a reactivation notice, just as with retail. Direct OEMs are officially held liable for things such as installation/recovery media, and as such were commonly provided until

400-470: The James Bond franchise. Conversely, the parent may be larger than some or all of its subsidiaries (if it has more than one), as the relationship is defined by control of ownership shares, not the number of employees. The parent and the subsidiary do not necessarily have to operate in the same locations or operate the same businesses. Not only is it possible that they could conceivably be competitors in

425-916: The OEM, which might be installed as replacements or enhancements after the car comes out of the factory. For example, if Ford used Autolite spark plugs , Exide batteries, Bosch fuel injectors , and Ford's own engine blocks and heads when building a car, then car restorers and collectors consider those to be the OEM parts. Other-brand parts would be considered aftermarket, such as Champion spark plugs, DieHard batteries, Kinsler fuel injectors, and BMP engine blocks and heads. Many auto parts manufacturers sell parts through multiple channels, for example to car makers for installation during new-vehicle construction, to car makers for resale as automaker-branded replacement parts, and through general merchandising supply chains. Any given brand of part can be OEM on some vehicle models and aftermarket on others. Microsoft

450-453: 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). Recital 31 of Directive 2013/34/EU stipulates that control should be based on holding a majority of voting rights, but control may also exist where there are agreements with fellow shareholders or members. In certain circumstances, control may be effectively exercised where

475-406: The images of Windows that will be deployed with their PCs (appropriate hardware drivers , anti-malware and maintenance software, various apps, etc.). Individuals may also purchase OEM "system-builder" licenses for personal use (to include virtual hardware ), or for sale/resale on PCs which they build. Per Microsoft's EULA regarding PC manufacturers and system-builder OEM licenses, the product key

500-412: The late-2000s. These were phased out in favor of recovery partitions located on the primary storage drive of the PC (and available for order from the manufacturer upon request) for the user to repair or restore their systems to the factory state. This not only cut down on costs, but was also a consequence of the gradual obsolescence and phasing out of optical media from 2010 onward. System builders also have

525-555: The marketplace, but such arrangements happen frequently at the end of a hostile takeover or voluntary merger. Also, because a parent company and a subsidiary are separate entities, it is entirely possible for one of them to be involved in legal proceedings, bankruptcy, tax delinquency, indictment or under investigation while the other is not. In descriptions of larger corporate structures, the terms "first-tier subsidiary", "second-tier subsidiary", "third-tier subsidiary", etc. describe multiple levels of subsidiaries. A first-tier subsidiary

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550-482: The other "subsidiary undertaking". According to s.1159 of the Act, a company is a "subsidiary" of another company, its "holding company", if that other company: The second definition is broader. According to s.1162 of the Companies Act 2006, an undertaking is a parent undertaking in relation to another undertaking, a subsidiary undertaking, if: An undertaking is also a parent undertaking in relation to another undertaking,

575-471: The parent holds a minority or none of the shares in the subsidiary. According to Article 22 of the directive 2013/34/EU an undertaking is a parent if it: Additionally, control may arise when: Under the international accounting standards adopted by the EU a company is deemed to control another company only if it has all the following: A subsidiary can have only one parent; otherwise, the subsidiary is, in fact,

600-430: The purposes of taxation , regulation and liability . For this reason, they differ from divisions which are businesses fully integrated within the main company, and not legally or otherwise distinct from it. In other words, a subsidiary can sue and be sued separately from its parent and its obligations will not normally be the obligations of its parent. However, creditors of an insolvent subsidiary may be able to obtain

625-460: The subsidiary, and so exercise control. This gives rise to the common presumption that 50% plus one share is enough to create a subsidiary. There are, however, other ways that control can come about, and the exact rules both as to what control is needed, and how it is achieved, can be complex (see below). A subsidiary may itself have subsidiaries, and these, in turn, may have subsidiaries of their own. A parent and all its subsidiaries together are called

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