An individual business is a company that is managed by a single individual. It’s distinct from a multiple-owner business structure, like LLC or partnership which is also a type of business, but more structured and taxed differently.

Individual businesses aren’t required to register with the federal government, although they may require an DBA (doing business under the name of) and any required licenses or permits. They’re not subject to the same https://kauai-realtor.com/make-ma-deals-easier-with-electronic-data-rooms-tools tax regulations as corporations, and are subject to no liability, which means any lawsuit brought against an individual business could end up costing them everything.

This article examines a specific type of business model that has been under-explored – the business model that is individual. Based on an inductive study of the longitudinal nature of chef and pioneer of the gastronomic world Ferran Adria’s ever-changing personal business model, this article examines triggers and mechanisms.