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spin-off, recycle- , spin-in Learning Practice to avoid go/no go -organizational ties - measuring progress flexibility, ROI not applicapable - funding fail early and cheap, Milestones - Staffing Article: Spin out traps 1. The crown jewel trap too close to core business 2. The piggy bank trap short term perspective (more interested in short term financial gains) 3. The legged stool trap lack of critical resources 4. The umbilical cord trap relationship with parent company, tight coupling, strong ownership of parent. Targacept Case Successful spinoff Thermo Electron - Failure

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