What is important here is the distance between the sponsoring company and the SPE. In the absence of adequate distance between the sponsor and the new entity, the latter will not be an SPE but only a subsidiary company. A good SPE should be able to stand on its feet, independent of the sponsoring company.
President Eisenhower authorizes creation of NASA. On this day in 1958, President Dwight D. Eisenhower signs an act that creates the National Aeronautics and Space Administration (NASA). He called the signing an [sic] historic step, further equipping the United States for leadership in the space age.
NASA is the US National Aeronautics and Space Administration, the US government's civilian space agency. NASA was responsible for early rocket testing and the first US manned missions, culminating in the exploration of the Moon in the 1960's and 1970's. The agency created the first US space station, Skylab.