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GLOBAL ORGANIC TEXTILE STANDARD
ECOLOGY & SOCIAL RESPONSIBILITY

Global Standard launches public consultation for the new Global Responsible Textile Standard (GRTS).
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Wholly Owned Subsidiary

Term Definition
Wholly Owned Subsidiary

A subsidiary company is considered wholly owned when all of the common stock is owned by another company, the parent company. With a wholly owned subsidiary, the company's stock is not traded publicly. It remains an independent legal body, a corporation with its own organized framework and administration. Its day-to-day operations are likely directed entirely by the parent company, however.