Individual Business – An Under-Exposed Type of Business Model

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

Individual businesses are not required to register with the federal authorities, however they may require an DBA or other licenses and permits. They’re not subject to the same tax laws as corporations, and are subject to no potential for liability, which means that a lawsuit brought against a private company could cost them everything.

This article examines a specific type of business model that has been https://kauai-realtor.com/make-ma-deals-easier-with-electronic-data-rooms-tools/ under-explored – the business model that is individual. Based on a longitudinal study of chef and pioneer of gastronomy Ferran Adria’s evolving individual business model, this article examines triggers and mechanisms.