A business that is an individual one is a company that is controlled by one individual. It’s different from a structure for business that has several owners, such as a partnership or LLC which is a comparable type of business, but structured and taxed in a different way.

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 aren’t governed by the corporate tax regulations and are subject to unlimited liability. A lawsuit against a single company could result in a loss of everything.

This article examines a specific type of business model that is under-explored – the individual business. Based on a longitudinal, inductive study of chef and pioneer of gastronomy Ferran Adria’s evolving individual business model, this article identifies triggers and Resources mechanisms.