A single-owner business is one that is owned by one person. It’s distinct https://kauai-realtor.com/technical-writing-and-technical-disciplines from a multi-owner business structure, such as an LLC or partnership that is a form of business, but more structured and taxed differently.
Individual companies aren’t required to register with federal authorities, but they may require an DBA or other licenses and permits. They are not subject to the corporate tax rules and face unlimited liability. A lawsuit filed against a private company could cost them everything.
This article focuses on an under-explored type of business model namely the individual business model. Based on a comprehensive longitudinal inductive case study on chef and gastronomic pioneer Ferran Adria, it pinpoints the triggers, mechanisms, and changes in his own evolving business model.
