Law Dictionary

split-off

noun \ ˈsplit-ˌȯf, -ˌäf \

legal Definition of split-off

:a transfer of corporate assets to a subsidiary involving the surrender of a part of the stock owned by the corporation's shareholders in exchange for controlling stock of the subsidiary :a D reorganization involving a distribution of part but not all of a corporation's stock for a subsidiary's stock; also :a new company created by such a distribution — compare spin-off, split-up

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