A business that is an individual one is a company that is owned by one person. It’s different from a multi-owner business structure, such as LLC or a partnership that is an entity, but more streamlined and taxed in a different manner.
Individual businesses aren’t required to be registered with the federal government, but they may need an DBA (doing business as) and any required licenses or permits. They’re not subject to the same tax regulations as corporations, and are subject to no potential for liability, which means that a lawsuit filed against https://kauai-realtor.com/technical-writing-and-technical-disciplines/ an individual business could cost them everything.
This article looks at a particular type of business model that isn’t being explored – the individual business. Based on a longitudinal, inductive study of the chef and pioneer of gastronomy Ferran Adria’s evolving individual business model, this article identifies triggers and mechanisms.