But that's not to say KFC is American, either. Yum! Brands, the company which owns all of KFC's intellectual property, including its name and recipes, is headquartered in Kentucky, but Yum China is headquartered in Shanghai. Probing the franchisee's corporate filings, you'll find references to more than 80 subsidiaries in nine jurisdictions, including more than a dozen in Luxembourg, the Netherlands, and some Caribbean tax havens. In disclosures, Yum China even warns investors that any lawsuit filed against it in the United States—still officially its home country—may be fruitless as nearly all its assets are in the Chinese mainland.