A single-owner business is one that is owned by one person. It’s distinct from a structure for business that has several owners, such as a partnership or LLC, that is a type of business, but it is structured and taxed in a different way.

Individual businesses typically don’t have to register with the federal government. However, they may require a DBA (doing business as) and any licenses or permits. They’re not subject to the same tax laws as corporations and are exempt from liability, which means that a lawsuit filed against an individual business could cost the company everything.

This article focuses on an under-explored type of business model namely the individual business model. Based on a comprehensive https://kauai-realtor.com/ longitudinal inductive case study of chef and gastronomic pioneer Ferran Adria, it pinpoints triggers, mechanisms, and modifications in his transforming personal business model.