An individual business is a business that’s managed by a single individual. It’s different from a multi-owner business structure, such as a partnership or LLC which is a type of business but more structured and taxed differently.
Individual businesses technical writing and technical disciplines generally don’t have to be registered with the federal government, although they may require a DBA (doing business under the name of) as well as any required permits or licenses. They aren’t governed by the corporate tax regulations and are subject to unlimited liability. A lawsuit filed against a private company could result in a loss of everything.
This article examines an under-explored type of business model – the business model that is individual. Based on an in-depth longitudinal inductive case study of chef and gastronomic pioneer Ferran Adria, the article identifies the triggers, mechanisms and shifts in his evolving individual business model.
