alternatehistory.com

Nothing can be so unjust as a few persons abounding in wealth to offer a portion of their excess for the formation of a company, to play with that excess, to lend the importance of their wholename and credit to the company, and then, should funds prove insufficient to ranswer all creditors, to retire into the security of their unhazarded fortune, and leave the bait to be devoured by the poor deceived fish-Editorial in the Times of London, 1824​
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One of the more interesting aspects about the limited libility corporation is that when it was foirst formed, there was significant opposition to their use and existence, on the part of people who theought the entire idea of letting rich investors limit their liability was fundamentally unjust and provided no real benefits.

So WI there were severe restrictions on their creation and use?

Hrmm. I'm not sure how you get this in anything short of Luddite Britain. Maybe a Napoleonic Europe?
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