You could do preemptive multitasking with memory protection on a 286. IBM & MS did it in OS/2.
Actually looks like Xenix used that too. http://www.tenox.net/docs/microsoft_xenix_30_286_press_relea...
Actually looks like Xenix used that too. http://www.tenox.net/docs/microsoft_xenix_30_286_press_relea...
I was only familiar with 68k so I'm probably wrong here.
The 286 is a 16-bit CPU so there would have been various memory limits. http://www.os2museum.com/wp/?page_id=313 has some details on what it can do, but not much mention of limits...