Today, Richard, 32, is head of two spinoff companies, one with entertainment and small-business clients, the other representing publicly owned companies.

Mr. Merlo was instrumental in helping establish the spinoff companies.

Already, one spinoff company, Sensar, is developing a technology that enables computers to recognize moving images almost instantaneously.

Both of the spinoff companies were still in operation as of 2011.

Sun said the spinoff company will be the largest independent oil and gas producer in North America.

The move will allow Mannesmann to raise extra cash, through an initial public offering in the spinoff company.

Still, a tracking stock remains a somewhat unusual security, and it has not been Disney's style to create spinoff companies with unusual characteristics.

In fact, the professors are at something of a loss to offer a complete explanation of why spinoff companies do so well.

We go together: Polaroid is teaming with its spinoff company to make an instant, ink-free mobile photo printer.

By the end of last year, 2,386 jobs had been created at the center or with new spinoff companies, according to the center.