Individual Business – An Under-Exposed Type of Business Model
A business that is an individual one is a type of business owned by one person. It’s different from a multi-owner business structure, like an LLC or partnership which is a form of business, but more structured and taxed in a different way.
Individual businesses typically don’t have to register with the federal government, although they may require a DBA (doing business under the name of) and any necessary licenses or permits. They’re not subject to the same tax regulations as corporations and have unlimited liability, which means that a lawsuit filed against an individual business https://kauai-realtor.com/what-are-professional-and-technical-disciplines-in-real-estate could end up costing them everything.
This article examines a specific type of business model that has been under-explored – the business model that is individual. Based on an inductive study of the longitudinal nature of the chef and gastronomic pioneer Ferran Adria’s evolving individual business model, this article examines triggers and mechanisms.