Corporate spin-off

An offshoot ( in English: spin out or spin-off ) referred to in the Business Administration, a spin-off of a business unit of a company and business creation with this part into an independent company. Alternative names: spin-off. Offshoot be classified as a form of divestments.

Innovation Management

In the innovation management such offshoots are also a great opportunity to commercialize research and development results externally. They also allow innovations, which have never really interested in the existing business units, develop and generate income from interest or royalty income with them. Offshoot apply as an instrument within the open innovation paradigm, open in the company their innovation system and systematically network with other actors and their environment. A distinction is academic spin-offs ( "academic spin- offs " ) and corporate spin-offs ( "corporate spin- offs ").

Cleavage

Of particular importance are spin-offs of listed companies. The shareholders of the existing company to receive this free shares of the new company or subscription rights to shares of the new company. In Germany this is done legally as a spin-off under the Reorganization Act.

Examples in Germany (date of listing ex spin-off )

• Takkt ( Celesio ) - September 13, 1999
• Aareal Bank ( Depfa Bank) - June 7, 2002
• Hypo Real Estate ( HypoVereinsbank ) - December 31, 2002
• Lanxess (Bayer) - May 31, 2005
• Osram (Siemens) - July 8, 2013

A closely related concept is the so -called equity carve-out, placed in the shares of a subsidiary on the stock market (ie sold).