Definition

In this Act, the term presidentially owned entity — (1) means a corporation, association, partnership, limited liability company, limited liability partnership, other legal entity, or sole proprietorship in which the President or Vice President has an ownership stake; and (2) does not include an entity in which— (A) more than 100 people have an ownership stake; and (B) the President or Vice President, as applicable, hold no more than 5 percent in a beneficial ownership stake.