Many successful businesses are closely associated with the names and faces of their leaders – Warren Buffett, Bill Gates, Michael Dell and even “The Donald” come to mind.

These are individuals whose identities and contributions personify a company and can greatly affect what those companies are worth. Anyone who remembers how Apple computer fared between Steve Jobs’ two terms as CEO understands this concept well.

Whether attributable to business acumen, a particular skill, outsized personality or all of the above, a business leader’s personal involvement or association with their enterprise can carry a tremendous amount of value.

This value falls within a class of business assets known as goodwill, and in some circumstances it can play a significant role in alimony and/or property division issues in a divorce case.

Defined broadly, goodwill is an intangible asset (as opposed to tangible assets such as real estate or inventory) that distinguishes a business. In many cases, goodwill can include such things as a prominent brand name, a high-profile client list, celebrity endorsements and, sometimes, the name, likeness and/or reputation of one or more principals. This latter category is sometimes referred to as personal goodwill.

Depending on your state and other factors, such as ownership interests and personal involvement, goodwill may be treated as a divisible marital asset — an indicator of future earning potential to be factored into the alimony calculus, or, perhaps, an asset that has no effect whatsoever on the outcome of the divorce.

Furthermore, some states do not consider personal goodwill as part of a business valuation or a computation of earning potential at all.

Consulting with a men’s family law attorney who is well-versed in the area of business valuation and who can recommend and work with outstanding outside resources such as accountants and other qualified experts should be at the top of the successful business leader’s priorities list when considering divorce.

And for those captains of industry looking to set sail into a new marriage, the same men’s divorce attorney may well be able to draft a prenuptial agreement that will set forth exactly how any and all assets of a business, including goodwill, are treated (or perhaps more to the point are not affected at all) in the event the marriage later dissolves.

Your contributions to the success of your business are just as important as any other asset that may be subject to division or other allocation in a divorce. Make sure you partner with a men’s divorce lawyer who is best equipped to protect it – and you.