spin-off

/ˈspɪnɒf/ noun [C] (UK also spin-out) COMMERCE, MARKETING, MANAGEMENT

Definition

› a new business created by separating part of a company, or the act of creating such a business: a spin-off from sth In Europe, most of the biggest internet companies are spin-offs from established firms.the spin-off of sth Oxford University's technology transfer unit managed the spin-out of 10 new companies in the last year.

(Definition of spin-off noun from the Cambridge Business English Dictionary © Cambridge University Press)