Ever since 1932, when Adolph Berle and Gardiner Means described the central problem of corporate law as the separation of the ownership of a company from its control, scholars in the fields of law and economics have been searching for a solution. It is difficult for a company that wishes to grow to remain under family ownership. Few financiers are capable of raising by themselves large enough sums of money to fund the capital requirements of such a company, and, in any event, it is not worthwhile for them to invest all of their money in one company and to be exposed to the risk that the company may fail. A company that wishes to grow must therefore raise funds from a number of investors, and, if large sums of money are involved, from numerous investors.