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

Individual companies typically don’t need to register with the federal government, but they may require a DBA (doing business under the name of) and any necessary permits or licenses. They’re not subject to the navigate to this site same tax laws as corporations, and are subject to no liability, meaning that a lawsuit filed against an individual business could end up costing the company everything.

This article examines a specific type of business model that is under-explored – the business model that is individual. Based on a comprehensive longitudinal inductive case study of chef and gastronomic pioneer Ferran Adria, it identifies triggers, mechanisms, and modifications in his ever-changing personal business model.