Carve-outs are a powerful tool for unlocking value, but they come with complexity and risk. Beyond the operational and stakeholder challenges that can erode confidence and leave value on the table. Technology and data have also become an important factor in a successful separation. In this article, we explore the critical steps to ensure a smooth, well‑managed carve‑out that protects value, mitigates risk, ensures continuity, and lays the foundation for long‑term success.