First law, and accountancy, LLPs

City-based Kemp & Co has become the first law firm to be registered with the Law Society as a limited liability partnership (LLP), changing its name to Kemp Little LLP. Specialising in technology issues, many of its clients are US corporations with European branches. Other law firms have registered LLP names with Companies House but Kemp is the first into practice. Ernst & Young is the first accounting firm to convert to an LLP, which, while the firm’s liability levels remain uncapped, will protect partners from financial penalties arising from their colleagues’ mistakes.