The Societas Europea: the Evolving European Corporation Statute

In this Article, Professor Blackburn examines and evaluates the Commission of the European Community\u27s 1991 proposed European corporation statute, which represents the Commission\u27s latest endeavor into creating a new form of business organization that possesses a European identity independent of the laws of the member states that comprise the European Economic Community. Professor Blackburn argues that this proposal fails because it places too much reliance on member state law for matters of basic structure and management, and therefore incorporates by reference the material variations in company law that exist among the member states. Professor Blackburn moreover contends that this proposal would render a European corporation\u27s movement from one member state to another highly problematic and would necessarily subject the corporation to the national company law of the member state where its place of central administration is located. Professor Blackburn concludesr however, that the proposal has been successful in stimulating the harmonization of member state law governing national companies and provides a useful tool for building a consensus in the EC on important social and economic issues