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Leveraging Virtual Data Room Services for Business Success

An individual business is a business that’s owned by one person. It’s different from a multi-owner business structure, such as LLC or partnership that is an entity, but more streamlined and taxed in a different manner.

Individual businesses typically don’t have to register with the federal government. However, 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 brought against a company’s individual could cost them everything.

This article looks at a particular type of business model that isn’t being explored – the individual business. Based on an in-depth longitudinal inductive case study of chef and gastronomic pioneer Ferran Adria, it pinpoints the triggers, mechanisms, and changes in his own evolving business model.