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Basically you answered your own question... there IS common-law divorce. If two people living common-law choose to separate, and there is no dispute over settlement of assets and/or arrangements for children, then they leave one another unencumbered (the children aspect can always be revisited). Nothing prevents them from living common-law or legally marrying someone else.
However, once you get legally married, you've gone a step beyond common-law and have involved the legal system (hence legally married). In that case, the rather ponderous legal system will require that you follow its particular rules. Without a divorce, you may not legally marry anyone else. And, if you choose to live common-law with someone else, you will still be bound by your marriage, and for legal and tax purposes probably be unable to claim your common-law status. In that case, you can at best claim to be separated.
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