What type of ownership is created when a firm buys another outright?

When a firm buys another outright, it creates a type of ownership known as "full ownership" or "acquisition." In this scenario, the acquiring firm gains complete control over the acquired company's assets, operations, and liabilities. This often involves the purchasing firm absorbing the acquired company into its existing structure, leading to consolidation in the market. The acquisition can enhance market share, diversify offerings, or achieve synergies between the two firms.