Individual Business – An Under-Exposed Type of Business Model

A single-owner business is one that is owned by one person. It’s different from a business structure https://kauai-realtor.com/how-to-find-the-best-place-to-learn-about-data-rooms-for-real-estate-professionals/ that has multiple owners, for example a partnership or LLC that is a type of business but structured and taxed in a different way.

Individual businesses aren’t required to be registered with the federal government, though they might require an DBA (doing business as) and any required licenses or permits. They’re not subject to the same tax rules as corporations and are exempt from potential for liability, which means that a lawsuit brought against a private company could cost the company everything.

This article looks at a particular type of business model that has been under-explored – the individual business. Based on a longitudinal study of chef and pioneer of gastronomy Ferran Adria’s evolving individual business model, this article pinpoints triggers and mechanisms.