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

Individual companies typically don’t need to be registered with the federal government, though they might require a DBA (doing business under the name of) as well as any required licenses or permits. They’re not subject to the same tax regulations as corporations and have unlimited potential for liability, which means that any lawsuit brought against an individual company could cost the company everything.

This article looks at a particular type of business model that isn’t being explored – the business model that is individual. Based on an inductive study of https://kauai-realtor.com/what-are-professional-and-technical-disciplines-in-real-estate the longitudinal nature of the chef and gourmet pioneer Ferran Adria’s evolving individual business model, this article identifies triggers and mechanisms.