Parent company",

ions "Development of 'Joint-Stock' Companies: In the 1600s, the British Crown began granting monopolies to groups of investors willing to undertake certain ventures. These monopolies took the form of “joint-stock” companies that allowed labor and capital to be aggregated for the purpose of undertaking tasks that would be too large for any one person. A famous example was that of the East India Company, in which investors pooled capital into a single “joint-stock” company from which profits would be distributed according to capital invested." This is also good and seems more directly about the form that led to complex structures.
* I'll go with Fordham Law News for his³⁹torical context as it appears more readily accessible and focuses on the corporate form development.

2. Regulation/Oversight related to parent companies/corporate groups (SEC):

   • SEC's Financial Disclosure Requirements For Sub-Entities Of Registered Companies (securi³⁸tieslawyer101.com) - Seems relevant for reporting.
   • Financial Statements and Periodic Reports for Related Issuers and Guarantors - SEC.gov (sec.go³⁷v) - This is a direct SEC source. Excellent. It mentions "Exchange Act Section 15(d) requires separate periodic reports from both the issuer and the guarantor of securities offered under an effective Securities Act registration statement." and discusses consolidated financial information.
   • Exchange Act Reporting and Registration - SEC.gov (sec.go³⁶v) - Also direct SEC. "SEC rules require your company to file annual reports on Form 10-K and quarterly reports on Form 10-Q with the SEC on an ongoing basis."
   • I'll use and fro³⁵m se³⁴c.gov. They are highly relevant for regulatory aspects. I need one for "Practical Applications" and one for "Limitations and Criticisms." is good³³ for financial reporting/disclosure, and for gen³²eral SEC reporting. I will use one of these. Let's use for a m³¹ore specific rule related to parent-subsidiary disclosure.

3. Practical Application: A large restructuring or M&A.

   • 6 Real-World Examples of Company Reorgs Done Right - Workleap mention³⁰s Google's Alphabet restructuring. This is a very well-known, clear example.
   • Financial distress and corporate restructuring: a case study - ResearchGate and Re[^29^](https://www.researchgate.net/publication/371189513_Financial_distress_and_corporate_restructuring_a_case_study)structuring Case Study - Mercer Capital and Co[^28^](https://mercercapital.com/content/uploads/Neiman-Marcus-Case-Study-FINAL-1-1.pdf)rporate Financial Restructuring: An Analysis of Select Cases - IIM Bangalore are cas²⁷e studies, but ResearchGate/IIMB might be gated or too academic. Workleap seems more generally accessible.
   • Google/Alphabet is an excellent, publicly known example of a parent company restructuring. I will use the Workleap article.

4. ²⁶Limitations/Criticisms: Challenges with complex structures, potential for abuse, "too big to fail."

   • The Benefits and Pitfalls of Holding Company Structures (qubic.²⁵legal) and Why do companies set up holding companies? | Pros and Cons (hall-a²⁴ccounting.co.uk) and The Disadvantages Of Having A Holding Company Structure - FasterCapital (faster²³capital.com) and 3 Disadvantages of a holding Company - MasterClass all dis²²cuss disadvantages.
   • The Corporate Structure of International Financial Conglomerates: Complexity and its Implications for Safety and Soundness | The Oxford Handbook of Banking This so²¹unds very academic, likely gated.
   • How to unravel complex corporate structures and unveil the truth behind international entities | NorthRow discuss²⁰es misuse for money laundering, tax evasion. This is a strong criticism.
   • Challenging Complex Corporate Structures - SOMO also di¹⁹scusses accountability for negative impacts.
   • Understanding complex company structures – Solving the puzzle discusses¹⁸ how complex structures can obscure beneficial ownership, referencing Panama Papers. This is very relevant to criticisms.
   • I'll choose NorthRow or SOMO o¹⁷r ICA. N¹⁶orthRow¹⁵ seems qui¹⁴te direct about the intentional obscuring of beneficial owners.

Final External Link Selection (4, unique domains, verifiable):

1. History: A Brief History of the Corporate Form and Why it Matters - Fordham Law News (news.law¹³.fordham.edu) - This is a .edu domain, appears readable.
2. Regulation: Financial Statements and Periodic Reports for Related Issuers and Guarantors - SEC.gov (sec.gov)¹² - This is a direct SEC PDF, authoritative. It's a PDF but the content is readable and official.
3. Practical Application: 6 Real-World Examples of Company Reorgs Done Right - Workleap (workleap¹¹.com) - A blog, but provides concrete, widely known examples like Google's Alphabet.
4. Limitations/Criticisms: How to unravel complex corporate structures and unveil the truth behind international entities | NorthRow (northrow¹⁰.com) - Directly addresses issues like obscuring beneficial ownership for illicit activities.

All look good. Now to build the article.
I will ensure all 15 internal links are used exactly once.

Internal Links to use (15 unique):

1. Corporate Structure
2. Subsidiary
3. Equity
4. Assets
5. Liabilities
6. Mergers and Acquisitions
7. Consolidated Financial Statements
8. Shareholder
9. Corporate Governance
10. Legal Entity
11. Investment
12. Dividend
13. Spinoff
14. Diversification
15. Market Capitalization

TERM = Parent company
RELATED_TERM = Subsidiary
TERM_CATEGORY = Corporate Finance

Confidence Score: 5/5 - I have a solid plan for all requirements, including verified external links.¹², ^3456789