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What is a spinout?

What is a spinout? Here are some definitions.

Noun
  1. (automotive) A skid that results in a car rotating so as not to be oriented in the direction of linear motion.
  2. (business) The formation of a subsidiary company that continues the operations of part of the parent company; the company so formed.
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Examples
He was first again last year in a thrilling finish, despite starting 16th and dropping to last after a spinout in pit lane early in the race.
Then there was an investment in University of Birmingham spinout, Celentyx, a pharmaceutical research and development company.
The convertible preferred stock issued to YA Global is convertible into the common stock of the planned spinout of Titan Electronics Group.
The enduro always gives a lot of action with many spinout and accidents all over the speedway and it is definitively a crowd pleaser.
Acted for the special committee of the board of directors of Fraser Papers Inc. in the spinout of its timber resources into Acadian Timber Fund.
The Company was established in 1995 as a spinout from Oxford University, and is listed on the London Stock Exchange.

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