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Financial Dictionary

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AFFILIATES - Business concerns, organizations, or individuals are affiliates of each other if, directly or indirectly, (a) either one has the power to control the other, or (b) a third party controls or has the power to control both.

Elements of control include, in part, interlocking management or ownership, identity of interests among family members, shared facilities and equipment, common use of employees, or a business entity organized following its desolution which has the same or similar management, ownership, or principal employees as the entity that was dissolved.

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