How to make a portion of an object a new object?

I’ve created two objects in edit mode and now realize it will be difficult to UV map it, so I’d like to take a portion of that mesh and save it as a separate object so I can UV map it separately. How can I do this? Thanks!

EDIT: Ooo… I just thought of a way: I can duplicate the object and then delete different portions from each mesh. Is there a better/easier way? Thanks!

Select the vertices you want to separate and press the P key.

You can also set Vertex Groups or Materials and UVMap each one individually.