Meaning of “related company” in the English Dictionary

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"related company" in Business English

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related companynoun [ C ]

uk us

FINANCE, WORKPLACE a company that controls or is controlled by another company, often one that is in the same business group:

Many small family companies have grown into enormous conglomerates with dozens of related companies spread throughout the world.
Non-executive directors could not be seen as independent if, in the past three years, they had a business relationship with a related company.

(Definition of “related company” from the Cambridge Business English Dictionary © Cambridge University Press)