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

Individual businesses typically don’t have to register with the federal government, but they may require a DBA (doing business under the name of) as well as any required permits or licenses. They aren’t governed by the corporate tax rules, and they have unlimited liability. A lawsuit against an individual company could https://kauai-realtor.com/make-ma-deals-easier-with-electronic-data-rooms-tools/ cost them everything.

This article looks at a particular type of business model that isn’t being explored – the individual business. Based on a detailed longitudinal inductive study of chef and gastronomic pioneer Ferran Adria, the article identifies the triggers, mechanisms and shifts in his own evolving business model.