Relier Pairs Restructuring TerminologyVersion en ligne Combine the term and its definition. par Ritva Ala-Louko 1 divestiture 2 core competence 3 merger 4 spin-off 5 takeover 6 joint venture 7 streamlining 8 strategic alliance 9 downsize A voluntary fusion of two companies into one new legal entity. A new organization or entity formed by a split from a larger company. The partial or full disposal of a business unit through sale, exchange, closure, or bankruptcy. Making a company’s operations simpler but more effective. A unique ability that a company acquires from its founder. It can not be easily imitated. A hostile way of gaining control over another company. An entity formed between two or more parties to undertake economic activity together. Cooperation between two or more companies aiming at better results in their operations. Reducing the number of employees on the operating payroll.