1. Has a controlling interest, 2. Owns more than 10 percent of the voting interest, 3. Owns more than $25,000 of the fair market value, 4. Is a member of the board of directors or other governing board, 5. Has a direct or indirect participating interest by shares, stock, or otherwise, regardless of whether voting rights are included, in more than 10 percent of the profits, proceeds, or capital gains, 6. Serves as an elected officer, 7. Is an employee of the business entity