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

Individual businesses are not required to register with federal authorities, however they hop over to here may require the use of a DBA or other licenses and permits. They aren’t subject to the corporate tax rules, and they have unlimited liability. A lawsuit against a single company could cost them everything.

This article explores an under-explored type of business model: the individual business model. Based on a longitudinal, inductive study of the chef and gastronomic pioneer Ferran Adria’s ever-changing personal business model, this article pinpoints triggers and mechanisms.