What is group company in SAP SAP-LEGAL - Global Field Legal?

SAP Term: group company

• Component: SAP-LEGAL

• Component Name: Global Field Legal

• Description: Any person, partnership, joint venture, corporation, company or other form of enterprise, domestic or foreign, located in the Territory, who i is under the Control of Licensor or ii has Control over Licensor.

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• Key Concepts: 
  A group company is a legal entity that is part of a larger corporate group. It is a separate legal entity from the parent company, and it has its own assets, liabilities, and financial statements. The parent company may own all or part of the group company's shares. Group companies are typically used to manage different business activities or to reduce taxes. 
  
  How to use it: 
  In SAP-LEGAL Global Field Legal, group companies are used to manage different legal entities within a corporate group. This allows for the tracking of different legal entities and their associated activities. It also allows for the consolidation of financial statements across multiple legal entities. 
  
  Tips & Tricks: 
  When setting up a group company in SAP-LEGAL Global Field Legal, it is important to ensure that all relevant information is entered accurately. This includes the name of the group company, its address, and any other relevant information. Additionally, it is important to ensure that all legal documents associated with the group company are properly filed and stored in the system. 
  
  Related Information: 
  For more information on setting up a group company in SAP-LEGAL Global Field Legal, please refer to the official SAP documentation. Additionally, there are many online resources available that provide detailed instructions on how to set up a group company in SAP-LEGAL Global Field Legal.