carveout

[ kahrv-out ]

noun
  1. a process of reorganizing a corporation by creating a subsidiary and offering the public a minority of its stock, while the parent company remains in charge of the company; a partial spin-off. : Compare spin-off (def. 1), split-off (def. 3), split-up (def. 3).

  2. exemption from a provision of the law.

Origin of carveout

1
First recorded in 1965–70; noun use of verb phrase carve out

Words Nearby carveout

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British Dictionary definitions for carve out

carve out

verb
  1. (tr, adverb) to make or create (a career): he carved out his own future

Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012