A single-owner business is one that is owned by Resources one person. It is different from a business with multiple owners, like a partnership or LLC, which is a comparable type of business, but it is structured and taxed in a different manner.

Individual companies typically don’t need to be registered with the federal government, although they may require a DBA (doing business as) and any necessary licenses or permits. They aren’t subject to the corporate tax rules and face unlimited liability. A lawsuit filed against a private company could cost them everything.

This article explores a largely unexplored type of business model – the individual business. Based on an inductive study of the longitudinal nature of chef and gourmet pioneer Ferran Adria’s evolving individual business model, this article pinpoints triggers and mechanisms.