The article traces the history of Limited Liability Companies back to ancient Rome, where merchants used slaves and sons as intermediaries to conduct business with limited personal liability. The practice of seeking liability protection in commerce is ancient, with various cultures from the Byzantine Empire to medieval Italy developing their own methods long before the modern LLC structure emerged in Wyoming in 1977.
The author argues that pre-forming an LLC is a practical strategy for modern entrepreneurs because software development has become so fast that legal incorporation is now the bottleneck. An LLC costs around $500 annually, enables quick payment acceptance and liability protection, and provides optionality to experiment with multiple business ideas without delay.