As used in this chapter, the following terms shall have the meanings indicated:
An individual, including the individual's spouse, if any, and any child living at home, person, firm, corporation, professional corporation, partnership, organization or association. The definition of a "business entity" includes all principals who own 10% or more of the equity in the corporation or business trust, partners, and officers in aggregate employed by the entity as well as any subsidiaries directly controlled by the business entity.
A business entity, as defined in this section, which provides services by individuals who are required to be professionally licensed under the laws or regulations of this state or which provides extraordinary unspecifiable services pursuant to N.J.S.A. 40A:11-5(1)(a)(ii).