A wholly-owned subsidiary of a multinational corporation is essentially a private corporation.

Name: A wholly-owned subsidiary of a multinational corporation is essentially a private corporation.
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A wholly-owned subsidiary is a company that is completely owned and controlled by another company, known as the parent company. Although it operates under the umbrella of the parent company, legally it is a separate entity, much like a private corporation.

A Wholly-Owned Subsidiary of a Multinational Corporation Is Essentially a Private