A single-owner business is one that is owned by one person. It’s different from a multi-owner business structure, such as a partnership or LLC that is an entity, but more structured and taxed in a different way.

Individual businesses are not required to register with federal authorities, but they might require an DBA or other permits and licenses. They are not subject to the corporate tax rules and have unlimited liability. A lawsuit filed against a private company could cost them everything.

This article explores a type of business model that is under-explored – the business model that is individual. Based on a thorough longitudinal study of the inductive case study https://kauai-realtor.com/make-ma-deals-easier-with-electronic-data-rooms-tools of chef and gastronomic innovator Ferran Adria, it identifies triggers, mechanisms, and modifications in his own evolving business model.