A spinoff is a term used to describe a new company, product, or service that is created as a result of an existing business. However, there are many other words that can be used to describe this process. For instance, the word "offshoot" can be used to describe a new entity that branches off from a larger organization. "Derivative" can be used to describe something that is created from pre-existing material, while "subsidiary" refers to a company that is owned or controlled by another company. Additionally, "spinout" is another term that is often used interchangeably with "spinoff". Regardless of which word is used, each describes the process of creating something new from an existing entity.