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Parf of speech: Noun, OED Year: 1951, OED Evaluation: Originally U.S.

A distribution of stock of a new company to shareholders of a parent company; a company so created.

Interviewer: That's the people who go underground? Speaker: Yeah. Interviewer: Yeah wow. Speaker: And- Interviewer: Wow. Spinoffs? Speaker: Spinoffs. Like ah ah spinoffs being, you-know for instance Gillivan, they're an electrical-supplier so…
companies providing services that support an industry