Individual Business – An Under-Exposed Type of Business Model

A single-owner business is one that is owned by a single person. It differs from a structure for business that has several owners, such as a partnership or LLC that is a type of business, but it is structured and taxed in a different https://kauai-realtor.com/make-ma-deals-easier-with-electronic-data-rooms-tools/ way.

Individual businesses aren’t required to register with federal authorities, however they might require the use of a DBA or other licenses and permits. They’re not subject to the same tax regulations as corporations and are not subject to unlimited potential for liability, which means that any lawsuit brought against an individual company could cost the company everything.

This article explores an under-explored type of business model namely the individual business. Based on a detailed longitudinal inductive case study on chef and gastronomic pioneer Ferran Adria, this article identifies the triggers, mechanisms, and changes in his transforming personal business model.

Last updated: Outubro 24, 2024