A single-owner business is one that is owned by a single person. It’s different from a structure for business that has multiple owners, like a partnership or LLC, which is a similar kind of business, but it is structured and taxed in https://kauai-realtor.com/what-is-computer-science/ a different manner.
Individual companies aren’t required to register with federal authorities, but they might require an DBA or other permits and licenses. They are not subject to the corporate tax rules, and they have unlimited liability. A lawsuit filed against a private company could cost them everything.
This article explores an under-explored kind of business model – the individual business. Based on a longitudinal study of chef and gastronomic pioneer Ferran Adria’s evolving individual business model, this article pinpoints triggers and mechanisms.
