A single-owner business is one that is owned by a single person. It’s different from a multi-owner business structure, like LLC or a partnership which is also a type of business, but more structured and taxed differently.

Individual businesses generally don’t Continue Reading have to be registered with the federal government, but they might require an DBA (doing business as) as well as any required licenses or permits. They are not subject to the corporate tax rules and have unlimited liability. A lawsuit against a single company could result in a loss of everything.

This article examines a specific type of business model that has been under-explored – the business model that is individual. Based on an inductive study of the longitudinal nature of chef and gastronomic pioneer Ferran Adria’s evolving individual business model, this article identifies triggers and mechanisms.