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Relationship between two companies when one company owns substantial interest, but less than a majority of the voting stock of another company, or when two companies are both subsidiaries of a third company. See: Subsidiaries, parent company.


1. A company that owns a minority interest in another company. This gives the first company a degree of control over the second, but not enough to make it a full-fledged subsidiary.

2. One of two companies that have a structural relationship with each other. For example, both companies may be subsidiaries of the same parent company.


An organization that is related to another organization through some type of control or ownership. For example, a U.S.-based company may have a foreign affiliate that handles overseas sales.
References in periodicals archive ?
R2A is an associate company of Gemini Consulting, a multi-disciplined management consulting company.
An associate company dealing with funding for media projects which is available as a tax efficient investment only to investors in Germany.

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