Reference no: EM132834146

Maria Blanco and her brother, Thomas, own a lemon grove in Florida.

The Blancos grow organic lemons and have made some money selling them at their local farmer's market and to the organic supermarket in their town. Recently, however, they have realized that they could make much more money if they extracted the oil from the lemons and sold that. In order to extract the oil from the lemons, however, they would need to purchase a citrus processing machine, which is very expensive. So, they had the idea of possibly going into business with other owners of organic lemon groves in the area in which they live, so that-among other things-they could share the cost of the citrus processing machine. They have talked with owners of three other organic lemon groves, all of whom would like to go into business with the Blancos. They have decided to call themselves "The Lemon Farmers".

Question 1:

The Lemon Farmers are considering which form of business would be best and have asked for your assistance. Considering the specific circumstances of The Lemon Farmers, please provide a thorough comparison of the "partnership" and "corporation" forms of business-including advantages and disadvantages of each. Then explain which form would be more appropriate for their particular business and why.