My company has used Umbraco on 2 large sites now and have found it to be a very flexible cms product.
 
We are currently working on a reasonably large project. Our client company has requested a second "sister" site which should make use of the same products as the main site, however some structure and design will differ on the new site. We are looking to somehow transfer product information from the master site to the second one - transferring data from the sql server database to the new database in some form of segmented replication might make sense. The question I suppose is: can the node data and templates related to that data be easily separated from other data in the database?
 
The sister website has the same products as the main site but the company doesn't want to maintain two administrative sections to edit the products.

Is there a way that we can use some section of the content for the both the websites?