Spin-off

A spin-off is a new company or product that is created from an existing one. This often happens when a larger company separates a part of its operations to focus on a specific area, allowing more specialized attention and resources. Spin-offs can be beneficial for both the parent company, which may improve its focus and efficiency, and for the new entity, which can innovate and grow independently. Examples include a tech company developing a new app as a standalone business or a film studio creating a new movie based on a popular character from another film.