A PYMNTS Company

Approaching the Concept of Corporate Groups: The Required Elements for its Existence

By  |  June 4, 2019

By Carlos Mario Montiel Fuentes (Universidad Externado de Colombia)

The affiliated group is the set of one or more legally independent companies under control or subordination by a controlling parent and under a single management that determines the guidelines to be followed by the members of the group. Formally it can only be spoken of a group when the two elements of its essence are met: 1. Subordination or control, and 2. The unity of purpose and direction. However, this does not mean that a new entity autonomous and independent is being created as it keeps intact the legal personality of each of the companies linked to the group.

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