If you want less oversight and rules, then there is no separation between company and owner and you can be sued to death. This is the way Capitalism operated until Limited Liability Act 1855 (UK), which then US States copied the similar principles. That said we have had some form of Limited Liability since the 1400s with the Guild system, a system about community and reciprocality developed under Catholicism. I bring up religion for in the 1500s and 1600s Protestantism did not just jettison Catholic authority, it also jettison the sacraments, re-evaluated values and traditions and created new ethos such as the individual right to do what they want and gain the fruits of their labors. It is now seen as something important as air until you do a comparative tradition, for people do not examine their own assumptions.

In sum the English Common Law system and how we sue people for damages touches everything in US and UK culture.