According to the traditionnal economic theory, landlord would be a rentier stranger to the farm, while the leaseholder should be considered to be an entrepreneur. This picture misleads. Land proprietor influences the definition of the farm ; he supervises its functionning and investments. He is concerned in the life of the farm. Enterprise is divided in two parts. One is the ground-enterprise, holded by the landlord, and producing landed capital. The other is the merchant enterprise, holded by the tenant, and processing commodities. The different forms of land tenure consist in various way of relationship between both landed and merchant centers of agricultural enterprise. Share-holding system advantages landed property for this method promotes growth of landed capital. Farming system set up invariability periods for landed capital : a derived landed capital may arise in the farmer's hands. The new « land long lease system » creates a structure of « half-farming ».
