A single-owner business is one that is owned by one person. It differs from a business structure that has multiple owners, like a partnership or LLC, which is a similar kind of business, however it’s structured and taxed in a different manner.

Individual companies aren’t required to register with the federal authorities, however they may require the use of a DBA or other permits and licenses. They aren’t governed by the corporate tax regulations and are subject to unlimited liability. A lawsuit against a single company could cost them everything.

This article explores a largely unexplored type of business model: the individual business model. Based on an in-depth longitudinal study of the inductive case study of chef and gastronomic innovator Ferran Adria, it identifies the triggers, mechanisms and shifts in his transforming personal business model.

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