Applicants must be privately held and not a subsidiary or division of another company. If the parent company is eligible, we encourage that entity to serve as the applicant. Companies to Watch focuses on businesses in control of their destiny regarding strategy, vision, and profit. Entities that take direction from a parent company are often unable to exercise such power. If you feel your situation is in a “gray area,” enter “Yes” to the question in Section 2K, then answer the following questions, and we will consider your situation on a case-by-case basis.