A "spin-off" is a type of media production that takes characters, settings, or storylines from an existing work and creates a new, independent project. This can occur in television, film, literature, or video games. For example, a popular character from a show like Friends might get their own series, focusing on their adventures and experiences. In business, a spin-off refers to a company that is created when a parent company separates part of its operations into a new, independent entity. This often happens to allow the new company to focus on its specific market or to unlock shareholder value. An example is eBay spinning off PayPal into a separate company.