Pronunciation: (split'ôf", -of"), [key]
1. the act of separating or splitting away from something else.
2. something that has split or has been split from something else.
3. Com.a process of reorganizing a corporate structure whereby the capital stock of a division or subsidiary of a corporation or of a newly affiliated company is transferred to the stockholders of the parent corporation in exchange for part of the stock of the latter. Cf. spin-off (def. 1), split-up (def. 3).
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.