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Offshoring in a business context specifically refers to relocating processes or functions to another country. This typically involves moving certain business operations, such as manufacturing, customer service, or IT services, to countries where labor and operational costs may be lower. This strategic move allows companies to achieve greater efficiency, reduce expenses, and sometimes access specialized skills that may not be readily available in their home country.

In contrast, transferring ownership of a company pertains to mergers, acquisitions, or selling a business, which does not fall under the definition of offshoring. Moving a company's headquarters to a tax haven involves a different strategy related to tax benefits rather than operational relocation. Outsourcing internal jobs within the same country refers to the practice of hiring external vendors or contractors to handle certain tasks but does not involve relocating these jobs to another country. Hence, the emphasis on relocating processes or functions specifically highlights the essence of offshoring.