A business that is an individual one is a business that’s controlled by one individual. It’s different from a multi-owner business structure, such as a partnership or LLC that is a type of business but more structured and taxed differently.
Individual companies aren’t required to conduct individual businesses 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 they have unlimited liability. A lawsuit against an individual company could result in a loss of everything.
This article focuses on a kind of business model that isn’t being explored – the business model that is individual. Based on a detailed longitudinal inductive case study of chef and gastronomic innovator Ferran Adria, it pinpoints triggers, mechanisms, and modifications in his ever-changing personal business model.