Publication date: 28.05.2024
The distribution of joint business spouses: legal aspects and practical recommendations
Family business often becomes a matter of life for spouses, but also joint property, the result of long -term work. However, unfortunately, divorce is a favorable situation, and in such cases the issue of division of joint business of spouses. This can be a difficult process that requires taking into account various legal and practical aspects.
The distribution of business of spouses is governed by the standards of the Family and Civil Codes of Ukraine. The general rule is that the property acquired by the spouses in marriage is their joint compatible property, and when divorced is subject to separation in equal parts, unless otherwise provided by the contract or court decision.
Business spouses, like any other property, can be the object of distribution when divorced. However, the specificity of the business is that it is not only material assets (premises, equipment, etc.), but also intangible assets (trademark, business reputation, client base), which complicates the distribution process.
Business distribution can occur in several ways:
1. Separation of property and assets of business between former spouses in equal parts. This is possible if they agree to continue working together or attract new co -owners.
2. Redemption of a share by one of the former spouses. In this case, one of them becomes the sole business owner and the other receives compensation for their share.
3. Sale of business and distribution of proceeds. This option is appropriate if the couple does not want to continue doing the joint business.
The division of business upon divorce can occur both in court, if the spouse has not reached consent and by concluding the relevant contract. In doing so, the court can take into account various factors, such as the contribution of each spouse to the creation and development of business, the presence of other sources of income, the interests of minor children, etc.
It is important to remember that sharing business is a complex process that requires careful planning and legal support. It is necessary to take into account not only the division of tangible assets, but also intangible (trademark, client base, business reputation), as well as obligations to partners, counterparties and employees.
When divorced, the distribution of business should be considered as a separate issue other than the distribution of other common property. This will avoid misunderstandings and conflicts that can adversely affect business activities.
Involving experienced business lawyers and business professionals can be a key to a successful business distribution between former spouses. They will help to take into account all the legal intricacies, make a proper assessment of assets and determine the optimal distribution path, taking into account the interests of both parties.
Summarizing, the division of business of spouses is a complex process that requires a comprehensive approach and taking into account various factors. It is important to comply with the requirements of the legislation, to involve professional lawyers and experts, and to strive for constructive dialogue between former spouses. Only under such conditions can a fair and mutually beneficial distribution of a business that will protect the rights and interests of both parties be achieved.
