30 Sep Individual Business – An Under-Exposed Type of Business Model
A single-owner business is one that is owned by one person. It’s different from a https://kauai-realtor.com/ multi-owner business structure, like an LLC or partnership, which is also a form of business, but more structured and taxed differently.
Individual businesses are not required to register with the federal authorities, however they might require an DBA or other licenses and permits. They aren’t governed by the corporate tax rules, and they have unlimited liability. A lawsuit against an individual company could result in a loss of everything.
This article explores an under-explored kind of business model – the individual business model. Based on an inductive study of the longitudinal nature of the chef and pioneer of the gastronomic world Ferran Adria’s evolving individual business model, this article pinpoints triggers and mechanisms.