Subsidiary

A subsidiary is a corporation controlled by another. When that control or ownership is not shared, it is termed a wholly-owned subsidiary. Subsidiaries are distinct legal entities for purposes of taxation and other forms of regulation.

A large holding company such as Berkshire Hathaway will usually organize all of their holdings into subsidiaries, sometimes with multiple levels of containment. [1] (http://www.berkshirehathaway.com/subs/sublinks.html)