I would propose that in the case of land the correct property theory is that of the Individualist anarchists. They asserted that the only true title to land is 'use and possession.' That is, to rightly own land, you must be in possession of it. For example, you must be living on it, keeping it up etc. This would also follow for businesses. You can only own a business insofar as you must actively manage its day to day operations. This would prevent absentee ownership, or direction of operations from afar. However, it would leave ample room for incentive to work and accumulate wealth - up to a point. This would also solve the problem of vast and unaccountable hierarchies.