Spin outs are usually done by corporations where the new business is not directly part of their strategic intent or plan. The reason for spending it out however is that the new idea is usually powerful enough that the Corporation might consider a change in strategy if the venture succeeds. The corporation wants to retain some hand or role in reintegrating the spun-out venture if it is successful. Creating a spin-out from an existing company usually involves the sale of ownership shares in the new venture to outside investors. IP is often viewed as a necessary contribution for outside investors to enter into the deal. Once again the process of selecting and value IP for such deals is very similar to that of licensing out as described above.