Individual Business – An Under-Exposed Type of Business Model
Leveraging Virtual Data Room Services for Business Success
A single-owner business is one that is owned by one person. It’s distinct from a multi-owner business structure, such as an LLC or partnership which is also a type of business but more streamlined and taxed in a different manner.
Individual businesses are not required to register with the federal authorities, however they may require an DBA or other licenses and permits. They aren’t subject to the corporate tax regulations and are subject to unlimited liability. A lawsuit filed against a private company could cost them everything.
This article looks at a particular type of business model that isn’t being explored – the business model that is individual. Based on an inductive study of the longitudinal nature of the chef and pioneer of the gastronomic world Ferran Adria’s evolving individual business model, this article examines triggers and mechanisms.
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