spin-off, n. 1. A corporate divestiture in which a division of a corporation becomes an independent company and stock of the new company is distributed to the corporation’s shareholders. [Cases: Corporations 445. C.J.S. Corporations § 656.] 2. The company created by this divestiture. Cf. SPLIT-OFF F; SPLIT-UP.
split-up, n. The division of a corporation into two or more new corporations. • The shareholders in the original corporation typically receive shares in the new corporations, and the original corporation goes out of business. Cf. SPIN-OFF; SPLIT-OFF.
split-off, n. 1. The creation of a new corporation by an existing corporation that gives its shareholders stock in the new corporation in return for their stock in the original corporation. 2. The corporation created by this process. Cf. SPIN-OFF; SPLIT-UP. [Cases: Corporations 445. C.J.S. Corporations § 656.]