Individual Business – An Under-Exposed Type of Business Model

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A business that is an individual one is a business that is controlled by one individual. It’s distinct from a multi-owner business structure, such as an LLC or partnership which is also a form of business, but more structured and taxed differently.

Individual companies typically don’t need to be registered with the federal government, but they might require a DBA (doing business under the name of) and any required licenses or permits. They aren’t governed by the corporate tax rules, and they have unlimited liability. A lawsuit against a single company could cost them everything.

This article examines a specific type of business model that is not widely https://kauai-realtor.com/generated-post explored – the business model that is individual. Based on a longitudinal study of chef and pioneer of gastronomy Ferran Adria’s ever-changing personal business model, this article identifies triggers and mechanisms.

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