standing
collaboration. The Third Edition carries this collaboration forward into a new
generation of scholars. Although the authors of the First Edition lent a hand, their role
was largely advisory. We called ourselves the “supervisory board.” Most of the credit
for the conceptual innovation and new research evident in this edition rightfully goes
to those co- authors who joined the Anatomy prior to the Second Edition or before
the Third Edition was underway. This is as it should be. Corporate law like other
disciplines requires a steady infusion of new energy and fresh perspectives, if not to
remain relevant then at least to reach closure while it is fresh. This is not to say that the
Third Edition abandons the aspirations and conceptual framework of prior editions.
We remain committed to an approach to corporate law that is “international,” “functional,”
“neutral,” and last but not least, “brief.” Indeed, the Third Edition is considerably
improved on three of these dimensions and, against all odds, steadfastly holds the
line on its commitment to brevity.
The Anatomy has always been “international” and comparative, yet it has inevitably
been constrained in one sense, namely, the number of jurisdictions that it follows
through its functional chapters. Concrete references to the law of particular jurisdictions
is key to making our analysis credible; too many jurisdictions would overreach
our collective expertise and invite the charge that we have cherry- picked examples to
fit our conceptual framework. The Second Edition added Italy to our initial set of
five jurisdictions selected from a short list of developed economies: France, Germany,
Japan, the UK, and the U.S. Italy was chosen not only because it fit our jurisdictional
profile but also because a major scholar of Italian corporate law, Luca Enriques, joined
our collaboration. John Armour, who joined the Anatomy at the same time, broadened
our conception of corporate law to include aspects of bankruptcy and related fields
often located outside of our domain.