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

Individual companies aren’t required to what is computer science 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 rules and have unlimited liability. A lawsuit filed against a private company could result in a loss of everything.

This article examines an under-explored type of business model namely the individual business. Based on a detailed longitudinal inductive study of chef and gastronomic pioneer Ferran Adria, it identifies triggers, mechanisms, and modifications in his evolving individual business model.