Individual Business – An Under-Exposed Type of Business Model

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A business that is an individual one is a type of business controlled by one individual. It’s different from a business structure with several owners, such as a LLC or partnership, which is a comparable type of business, however it’s structured and taxed in a different way.

Individual companies typically don’t need to register with the federal government, although they may require a DBA (doing business under the name of) as well as any required licenses or permits. They aren’t subject to the corporate tax rules, and they have unlimited liability. A lawsuit against a single company could result in a loss of everything.

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

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