Yea Snippy, it's sorta like that but for the most part K2 doesn't have brands that are in direct competition. It is the same people working on product that will be released under any one of the brand names. This is how Hyperlite and Byerly work.
Kent is weird because it usually doesn't call itself a parent company, instead it just says that it (Archer) is the majority shareholder of each company: HO Sports (HO, Hyper, Byerly, Accurate, shadowbox, Wakekite), Connely (CWB, Connely, Proline), Obrien (LF, Obrien, Straightline).
Each company has it's own budget that comes from the same place and their own bottom line. There is no sharing of IP, marketing or really anything other resource.
The conflict of interest comes in when R&D is underfunded for all companies so that none of them get a competitive advantage.