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The situation that arises when a parent corporation organizes a subsidiary corporation, to which it transfers a portion of its assets in exchange for all of the subsidiary's capital stock, which is subsequently transferred to the parent corporation's shareholders.

When a spin-off occurs, the shareholders of the parent corporation are not required to surrender any of their parent corporation stock in exchange for the subsidiary's stock.

In the event that the distribution of stock to the parent corporation's shareholders amounts to a dividend, the distribution can be taxed pursuant to provisions of Income Tax statutes.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.
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Mr Burton said Dapa was keen to diversify rather than grow the core business, hence the launches of Tuft Contracts and Dapa Atelier, and fully expected to double staffing numbers at least through the two off-shoots.
Without a real hit record to their name, the creative force behind Stavely Makepeace, namely Rob Woodward (vocals, piano) and Nigel Fletcher (drums) liked the idea of an off-shoot band based around two pianos, drums and bass.
I don't know if it is an off-shoot of Liverpool's Capital of Culture year, but it is great that such high levels of professionalism and imagination are to be found in the provinces.
This raised expectations that at least the first part of the project - a city line with an off-shoot to Kirkby -would go ahead.
An off-shoot of the series was a successful networking group.
An off-shoot of sadly defunct, bearded sonic behemoths Comets On Fire, vocalist Ethan Millar sounds like he not only smoked five packs-a-day for the past 30 years but ate the ashtrays too.
The five-year-old company was originally established for forestry projects but evolved into web design and promotional print work, which has become a successful business off-shoot.
The shortlist for the Orange Award for New Writers, an off-shoot of the Orange Prize for Fiction, has been announced and it includes British author Naomi Alderman.
In April 2004 he ranted about "big media," describing them as "agents of deception and exploitation." He said the war in Iraq "is making billions of dollars for the big corporations, whether it be those who manufacture weapons or reconstruction firms like Halliburton and its off-shoot sister companies." (Halliburton is, of course, the bete noir of anti-war bloggers.)
An off-shoot of the program is called "Meet Gay Copenhagen."
An off-shoot of national carrier Singapore Airlines, Tiger Airways will operate from Singapore's Changi Airport.
Now living on a farm in Whitley Bay, three decades ago Dave was best known as a member of the Bowie off-shoot, Spiders From Mars.