; (B) in the case of a business entity that is a limited liability company (including a series of a limited liability company formed under the laws of a jurisdiction that recognizes such a series), a membership interest; or (C) in the case of a business entity that is a corporation, not less than 5 percent of the capital stock of the business entity or, as applicable, a subsidiary of the business entity. (9) Person The term person has the meaning given the term in section 3 of the Fair Labor Standards Act of 1938 ( 29 U.S.C. 203 ). (10) Predispute arbitration agreement The term predispute arbitration agreement means an agreement to arbitrate a dispute that has not yet arisen at the time of the making of the agreement. (11) Predispute joint-action waiver The term predispute joint-action waiver means an agreement, whether or not part of a predispute arbitration agreement, that would prohibit, or waive the right of, one of the parties to the agreement to participate in a joint, class, or collective action in a judicial, arbitral, administrative, or other forum, concerning a dispute that has not yet arisen at the time of the making of the agreement. (12) Qualified asset or interest The term qualified asset or interest , with respect to a business entity, means an asset or interest that is— (A) all or substantially all of the operating assets and the goodwill of the business entity; (B) all or substantially all of the operating assets of a division, or a subsidiary, of the business entity and the goodwill of that division or subsidiary