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carveout
[ kahrv-out ]
noun
- 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 ).
- exemption from a provision of the law.
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Word History and Origins
Origin of carveout1
First recorded in 1965–70; noun use of verb phrase carve out
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