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

Individual businesses generally don’t have to register with the federal government, though they might require an DBA (doing business as) as well as any required licenses or permits. They’re not subject to the same tax regulations as corporations and have unlimited liability, which means any lawsuit brought against an individual business could cost the company navigate to this site everything.

This article examines an under-explored kind of business model – the individual business. Based on a longitudinal, inductive study of the chef and pioneer of the gastronomic world Ferran Adria’s evolving individual business model, this article examines triggers and mechanisms.