A single-owner business is one that is owned by one person. It’s different from a multi-owner business structure, such as LLC or partnership that is a form of business, but more structured and taxed in a different way.

Individual businesses typically don’t have to register with the federal government, though they might require an DBA (doing business as) as well as any required permits or https://kauai-realtor.com/generated-post-2/ licenses. They’re not subject to the same tax rules as corporations and are not subject to unlimited liability, meaning that any lawsuit brought against an individual company could cost them everything.

This article explores an under-explored type of business model – the individual business model. Based on an in-depth longitudinal study of the inductive case study of chef and gastronomic pioneer Ferran Adria, the article identifies the triggers, mechanisms, and changes in his evolving individual business model.