https://kauai-realtor.com/generated-post-2
A single-owner business is one that is owned by one person. It’s different from a business with multiple owners, for example an LLC or partnership, which is a comparable type of business but structured and taxed in a different manner.
Individual businesses aren’t required to register with federal authorities, but they might require the use of a DBA or other permits and licenses. They are not subject to the corporate tax rules and face unlimited liability. A lawsuit filed against a private company could result in a loss of everything.
This article explores a type of business model that is under-explored – the individual business. Based on an inductive study of the longitudinal nature of the chef and pioneer of gastronomy Ferran Adria’s evolving individual business model, this article pinpoints triggers and mechanisms.
