Before the company appeared, the sole proprietorship was the most typical form of enterprise; There are various partnership organizations coexisting with the sole proprietorship, and the most typical partnership organization at that time was the family business group.

Before the company came into being, the partnership organization did not acquire the status of a legal person, but some other legal bodies appeared. This situation can be traced back to ancient Rome. In ancient Rome, the state, local autonomous organizations, religious organizations such as monasteries, and charitable organizations such as nursing homes all gained the status of legal persons. In the Middle Ages, some trade groups obtained the status of legal persons, especially those engaged in overseas trade. In medieval England, such organizations enjoyed greater independence than partnerships.

The earliest company was the Infinite Company. However, there is no essential difference between an unlimited company and a partnership, just a partnership organization that has obtained the status of a legal person.

The first legislation on unlimited companies was the Commercial Regulations of Louis XIV of France in 1673, which was called ordinary companies at that time. In 1807, it was renamed as a joint venture company in the French Commercial Code. The Japanese Commercial Code also provides for the "Joint Name Association". After the emergence of the unlimited company, it has made great progress, but with the emergence of the joint stock limited company and the limited liability company, the unlimited company has retreated to a secondary position.