A single-owner business is one that is owned by one person. It’s different from a multiple-owner business structure, such as an LLC or partnership which is an entity, but more structured and taxed in a different way.

Individual businesses aren’t required to be registered with the federal government, although they may need an DBA (doing business under the name of) and any necessary licenses or permits. They’re not subject to the same tax laws as corporations, and are subject to no potential for liability, which means that a Continue Reading lawsuit against an individual business could cost the company everything.

This article examines a specific type of business model that is under-explored – the business model that is individual. Based on a thorough longitudinal inductive study of chef and gastronomic pioneer Ferran Adria, the article identifies the triggers, mechanisms, and changes in his transforming personal business model.