Individual Business – An Under-Exposed Type of Business Model

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A business that is an individual one is a type of business managed by a single individual. It’s distinct from a multi-owner business structure, like LLC or a partnership, which is also a type of business but more streamlined and taxed in a different manner.

Individual businesses generally don’t have to be registered with the federal government, but they may require an DBA (doing business under the name of) and any licenses or permits. They are not subject to the corporate tax rules, and they have unlimited liability. A lawsuit against a single company could cost them everything.

This article focuses on a kind of business model that is not widely explored – the business model that is individual. 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.