University spin-off company (USO) is an important pattern of university technology transfer and S&T achievements’ industrialization, so it became the focus by foreign academic study and obtained abundant results. In this paper, the paper reviewed foreign research achievements from 4 aspects: formation and development of USO, incentive policies of university entrepreneurship, parent university’s support mechanism for spin-off company and evaluation study of USO, and on this base we proposed 4 suggestions to our USO research.