You may have heard that Amazon's founder and chief executive officer (CEO) is going through a divorce. He's been married to his wife for 25 years, and he's estimated to be worth approximately $139 billion.
The fact that Amazon's founder, Jeff Bezos, was getting divorced after 25 years of marriage may not have been that big of a deal, except for one small detail that the press quickly noted: The couple had no prenuptial agreement.
A divorce has the potential to significantly affect your business. However, there are ways to help yourself and to protect your business.
Could "Sudden Income Deficit Syndrome," be a factor in your divorce?
If you are not the spouse who ran a business during your marriage, you might think it's fine to leave the business alone and to walk away. However, you're likely entitled to some part of the profits from that business and may even be liable for some debts.
During a divorce, your business may be put at risk. If you run it alongside your spouse, you may end up fighting over who will obtain the business or how to stay in business together.
You're planning a divorce. As a business owner, you worry that your spouse -- soon-to-be your ex -- will take half of the company. Is that how it works?
You're very invested in your work, and you're very successful as a result. You own your own company, you broker international deals and your revenue goes up every year.
Business divorce is a term that refers to divorces that involve a business that both spouses own or that one spouse runs alone. One of the primary concerns of a solo business owner is whether the other spouse has a right to the business in divorce or not. Sometimes, spouses who have helped support the start of a business want to see the reward of doing so. Other times, a business that was already established may have little to do with the other spouse.
Thinking about starting a new business? If so, you need to consider the fact that it could put a lot of strain on your marriage. In fact, some experts believe that the divorce rate is higher than average for entrepreneurs.