What is Crown Jewel Defense?

Legal Definition
In business, when a company is threatened with takeover, the crown jewel defense is a strategy in which the target company sells off its most attractive assets to a friendly third party or spin off the valuable assets in a separate entity. Consequently, the unfriendly bidder is less attracted to the company assets. Other effects include dilution of holdings of the acquirer, making the takeover uneconomical to third parties, and adverse influence of current share prices.
-- Wikipedia
Legal Definition
An ANTITAKEOVER DEFENSE used by a company seeking to avoid a future HOSTILE TAKEOVER by another company. In the event a hostile takeover is successful the CROWN JEWEL provision in the company