No blanket conclusion should be drawn from foreign ownership alone. Review the actual employment and ownership facts.
Explain the real arrangement
Identify the U.S. employer, relevant links and who directs the work. TN is not general permission for U.S. self-employment, but foreign ownership should not be treated as an automatic prohibition.
Nothing prevents two people in the same household from each holding TN status, provided each independently meets the requirements: Canadian or Mexican citizenship, a qualifying listed profession, the credential that profession accepts, and prearranged professional employment for temporary entry. If the role is a general skilled trade rather than one of the specific professions Appendix 2 names, confirm honestly that TN is not available for that occupation before assuming a restructured job title or description could create eligibility. Confirm this distinction early with the applicant so expectations about timing and required steps match the actual process rather than assumptions carried over from a Canadian citizen colleague's experience. The applicant carries the citizenship requirement, since the principal must be a Canadian or Mexican citizen, along with the qualification requirement attached to the specific listed profession, which a degree earned in an adjacent field does not automatically satisfy.