<Ul> <Li> Since 1997, Oxford University's Isis Innovation has helped create more than 70 spin - out companies, and now, on average, every two months a new company is spun out of "academic research generated within and owned by the University of Oxford". Over £ 266 million in external investment has been raised by Isis spin - out companies since 2000, and five are currently listed on the London Stock Exchange's Alternative Investment Market (AIM). </Li> </Ul> <Li> Since 1997, Oxford University's Isis Innovation has helped create more than 70 spin - out companies, and now, on average, every two months a new company is spun out of "academic research generated within and owned by the University of Oxford". Over £ 266 million in external investment has been raised by Isis spin - out companies since 2000, and five are currently listed on the London Stock Exchange's Alternative Investment Market (AIM). </Li> <P> Mirror company formation is a specialized form of spin - off used to create a new public company . It simplifies the process of listing the shares on a public stock exchange . </P> <P> It works by an existing public company issuing a bonus share at a 1 - for - 1 rate in the new company . This new company is then sold to another company that does not want to go through the complex and expensive process of issuing a prospectus . The company that purchases the "shell" then does a reverse takeover, to transfer an operating business into the new company . This is often called a "backdoor listing". </P>

What is created when a corporation creates a new operation with another firm