An
entity derived from a pre-existing entity.
Lucent was spun off from American Telephone and Telegraph; the
DOJ could possibly spin off separate companies from
The Borg as an antitrust remedy. In
television, it involves creating a new show from a popular one -
Daria came from
Beavis and Butthead;
The Simpsons was based on a segment of
The Tracey Ullman Show.