https://kauai-realtor.com/generated-post-2

A single-owner business is one that is owned by a single person. It differs from a business structure that has multiple owners, such as a partnership or LLC, which is a similar kind 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 need an DBA (doing business as) as well as any required licenses or permits. They’re not subject to the same tax regulations as corporations, and are subject to no potential for liability, which means that a lawsuit brought against a private business could end up costing the company everything.

This article explores an under-explored kind of business model – the individual business model. Based on a detailed longitudinal study of the inductive case study of chef and gastronomic innovator Ferran Adria, it identifies triggers, mechanisms, and modifications in his ever-changing personal business model.