Definition for : Associate
An associate is a company over which a Parent company has a Significant influence (see also Equity method). An associate company is also called Associated undertaking or Equity affiliate.
(See Chapters Chapter 6 Getting to grips with consolidated accounts, Chapter 9 Margin analysis: Structure and Chapter 13 Return on capital employed and return on equity of the Vernimmen)
To know more about it, look at what we have already written on this subject