MNC stands for Multinational Corporation. It is a company that has ownership and control vested in a holding company. This means that the holding company owns the majority of shares or voting rights in the company, giving it control over the company's operations and decision-making processes.

Explanation:

Ownership and Control:
- In a multinational corporation, the ownership of the company is held by a holding company, which is typically located in a different country than the subsidiary companies.
- The holding company owns the majority of shares or voting rights in the subsidiary companies, giving it control over their operations and strategic decisions.
- This allows the holding company to coordinate and manage the activities of the subsidiary companies in different countries, ensuring consistency and alignment with the overall corporate strategy.

Advantages of a Holding Company Structure:
- One of the main advantages of a holding company structure is that it provides a centralized control and management system.
- The holding company can leverage its expertise, resources, and knowledge to support the subsidiary companies and help them achieve their goals.
- It also allows for better coordination and integration of operations, resulting in improved efficiency and effectiveness.
- Additionally, the holding company can facilitate the transfer of technology, know-how, and best practices among the subsidiary companies, promoting innovation and growth.

Multinational Presence:
- A multinational corporation typically operates in multiple countries, with subsidiary companies established in different markets.
- This global presence allows the company to access new markets, expand its customer base, and diversify its revenue streams.
- The holding company plays a crucial role in managing and coordinating the activities of these subsidiary companies, ensuring consistency in branding, product quality, and customer experience.

Conclusion:
In conclusion, a company whose ownership and control are vested in a holding company is known as a multinational corporation (MNC). The holding company owns the majority of shares or voting rights in the subsidiary companies, giving it control over their operations and decision-making processes. This structure allows for centralized control and management, better coordination of operations, and global expansion.