Pronunciation: (split'up"),[key] —n. 1. a splitting or separating into two or more parts.
2. a separation or dissociation of two groups or people.
3. Com.a process of reorganizing a corporate structure whereby all the capital stock and assets are exchanged for those of two or more newly established companies, resulting in the liquidation of the parent corporation. Cf. spin-off (def. 1), split-off (def. 3).