An individual business is a business that’s managed by a single individual. It differs from a business structure that has several owners, such as a LLC or partnership, that is a type of business, however it’s structured and taxed in a different way.

Individual companies typically don’t need to be registered with the federal government, though they might require a DBA (doing business as) as well as any required permits or licenses. They aren’t subject to the corporate tax rules, and they have unlimited liability. A lawsuit filed against a private company could cost them everything.

This article focuses on an under-explored kind of business model – the individual business. Based on a longitudinal inductive study of chef and gourmet pioneer Ferran Adria’s ever-changing personal business model, this article pinpoints triggers and mechanisms.

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