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There are many reasons to pursue a corporate spin off. CT’s Business Compliance Consultant, Sharon Carroll, outlines what you need to know in this short video. She touches on possible challenges and how to prepare so you don’t fall out of compliance at any stage in the spin off process.
There are a number of reasons that might drive a company to take a look at a corporate spin off. It might be to focus on a particular business need. It may be purely to raise revenue -- those assets that are currently part of one corporation being split and actually raising the value of the corporations.
It is critical to have an end-to-end solution for the spin-off process to mitigate risk and to make sure all your entities are in corporate compliance.
Multiple Stages in the Spin-Off Process.
There are a number of different stages involved in a spin-off process. These include -
Internal and External Compliance Challenges
There are a number of internal and external compliance challenges that might occur during a corporate spin off. Examples include Secretary of State requirements, federal and regulatory filings, and obtaining board approval.
Importance of Tracking Deadlines
Typically for a spin off there will be a number of deadlines that have to be tracked. Many companies will develop either a step or a calendar plan.
Missed deadlines might put the corporation at risk by having it fall out of compliance.
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