A related party is related to an entity if any of the following situations apply to it:
Associate. The party is an associate of the entity.
Common control. The party is, directly or indirectly, either under common control with the entity or has significant or joint control over the entity.
Family member. The party is a close family member of a person who is part of key management personnel or who controls the entity. A close family member is an individual's domestic partner and children, children of the domestic partner, and dependents of the individual or the individual's domestic partner.
Individual control. The party is controlled or significantly influenced by a member of key management personnel or by a person who controls the entity.
Joint venture. The party is a joint venture in which the entity is a venture partner.
Key management. The party is a member of an entity's or its parent's key management personnel.
Post-employment plan. The party is a post-employment benefit plan for the entity's employees.
These requirements are derived from international financial reporting standards.