By "splitting", I mean turning one chunk of information into more than one chunk. The new chunks do not necessarily have to be of a smaller size. I imagine the use of this could be something similar to the nuclear launch protocol, where two people with separate keys must be present.
Unfortunately, this is one of those hard-to-google questions. Google always returns results about splitting a file into smaller pieces for easier file transfer, which is unrelated.
A simple protocol I came up with for this is to XOR the data with random values. For example, to split a plaintext $p$ into 3 chunks, you generate two random values $r_1$ and $r_2$. You then save $r_1$, $r_2$, and $r_1 \oplus r_2 \oplus p$ as your pieces.
Is there a better known algorithm like this?