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

Individual businesses are not required to register with federal authorities, but they might require a DBA or other licenses and permits. They’re not subject to the same tax rules as corporations and have unlimited liability, meaning that any lawsuit brought against an individual 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 chef and pioneer of the gastronomic world Ferran Adria’s evolving individual business model, this article pinpoints triggers and mechanisms.

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