[occamrazor]

On the contrary, a partner has often unlimited liability, unlike an investor in an LLC or Ltd. company.

[dctoedt]

In the U.S., law firms are very often structured as "limited liability partnerships," a.k.a. LLPs. In most versions of LLPs, each individual lawyer is responsible for her own malpractice and that of the people she supervises, but not of the malpractice of others. [0]

[0] https://en.wikipedia.org/wiki/Limited_liability_partnership

[M2Ys4U]

Limited Liability Partnerships exist in many jurisdictions. In fact the Big Four strongly lobbied for them in the UK.

Here they act a lot like limited companies but are tax-transparent.