What defines a sister company?

A sister company is defined as one of two or more companies that are owned by the same parent company or corporation. These companies operate independently but share a common ownership structure. To answer the questions and rephrase them into a paragraph, let's start with a summary sentence. A sister company is characterized by its shared ownership with other companies under the same parent organization. These entities maintain their operational independence while being linked through their common parent company. This relationship allows them to collaborate or operate separately, depending on the strategic goals set by their parent corporation.