What profession first used LLPs in large numbers?

The use of Limited Liability Partnerships (LLPs) was pioneered largely by accountants as a means to provide professional services while protecting individual partners from joint liability. This structure allows for partners to limit their personal liability for the actions of other partners, thus encouraging joint ventures among professionals while safeguarding their personal assets from the risks associated with the business operations. Accountants were among the first to recognize the benefits of this legal structure, allowing them to practice collaboratively without exposing themselves to the potential legal repercussions arising from the negligence or misconduct of their peers.

Over time, other professions, such as attorneys and dentists, adopted the LLP model due to its favorable legal protections and operational flexibility, but accountants were the initial driving force behind the widespread implementation of LLPs in professional settings. The LLP structure has since gained popularity across various sectors, but its roots are firmly planted in the field of accounting.