Jake sold his cow herd but wanted to keep the land his family-owned for three generations and has now planted Frazier fur Christmas trees that he expected to sell but now can use them in his landscaping business and sell to local nurseries and has planted lots of other decorative trees as well to use in the landscaping business. He wants to share the business equally with his wife and two children so that each owns an equal portion of the business.His accountant advises him, since business is booming that he should transition from an informal partnership with his wife, to more formal type of business organization.

1. Jake is concerned that if the business gets much bigger or if he should just slow down and enjoy life a little more, he will need to hire professional management and possibly lose control over key business decisions. Are his concerns justified?
2. Jake occasionally hires workers that may or may not be in the U.S. legally. What are his legal and ethical obligations with respect to this decision?
3. Jake is deeply concerned with environmental issues and know that the best practices for for pesticides and fertilizer usage increase production costs, will incorporating affect their ability to give up a small amount of profit in exchange for protecting the environment?
4. How does incorporating affect jakes's ability to transfer ownership of the tree farm to his children?
5. Suppose this business has the opportunity to become much bigger in the future. How might it obtain more equity funding and perhaps create considerable wealth for jake's family in the process?