IIRC, the first limited liability company the "Société des moulins du Bazacle" was created in Toulouse in 1250 to build watermills on the Garonne. The uchaux (shares) could be sold at a price varying with the performance of the mills and the economic situation. At that time, an uchau was a part of a mill, but in 1370, it became a share of the company. During the XIXth century, the mills were transformed into an hydroelectric powerplant and the "Société des moulins du Bazacle" remained listed on the Toulouse stock exchange until 1946 when it was taken over by EDF through nationalisation...

The first multinational LLC was invented by the Dutch in 1602 (The Dutch East Indies Company).

"Dieu se rit des hommes qui se plaignent des conséquences alors qu'ils en chérissent les causes" Jacques-Bénigne Bossuet