Molecular chaperones are proteins that assist in the folding of other proteins but are not part of the final folded structure. They help prevent misfolding and aggregation of proteins. The first observations of molecular chaperones date back to the 1970s but their function was not fully understood until the 1980s and 1990s when it was discovered that they play a key role in protein folding and homeostasis. Molecular chaperones are found in all compartments of the cell where protein folding occurs and help protect proteins from misfolding, especially under stressful conditions.