U.S. corporations have largely abandoned the contentious deals that allowed them to shift their addresses abroad for a lower tax rate. Yet a key part of the transactions is continuing quietly even after President Donald Trump's tax overhaul.

The 2017 tax law was designed to stop traditional inversions, which had brought scrutiny and negative publicity for companies that moved their headquarters overseas, as well as to halt the flow of valuable intellectual property (IP) to low-tax countries. For companies that invert, the address change is generally the final step so they can more easily access the cash they've generated after years of shifting IP overseas.

Most firms are continuing with business as usual when it comes to their IP since the law's provisions aren't enticing enough for them to keep it at home, according to interviews with eight tax experts who advise large public corporations. They disclosed the details of the conversations they're having with companies, but declined to identify the specific clients.