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An individual business is a company that is managed by a single individual. It is different from a business with multiple owners, like a partnership or LLC which is a similar type of business, however it’s structured and taxed in a different way.

Individual businesses aren’t required to register with federal authorities, but they may require a DBA or other licenses and permits. They’re not subject to the same tax rules as corporations, and are subject to no liability, which means a lawsuit brought against a private business could cost them everything.

This article explores a type of business model that has been under-explored – the individual business. 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 pinpoints triggers and mechanisms.