Spin-off is the term used to describe the creation of a new company from an existing company. When it occurs, shares of the newly created spin-off company can be distributed to the shareholders of the older company, or sold directly on the stock market. For example, TripAdvisor, the website and app where people rant about how awful their hotel stay was, was a spin-off from Expedia, a place where people can book hotel rooms. Still unclear? Think about a TV series, such as Fear the Walking Dead. It takes place in the same world as the Walking Dead series, but the characters are different. They want to show us something different (same world, different product). Fear the Walking Dead is a spin-off of The Walking Dead.