The LLP shield is a lot thinner than the Corporation shield. It basically protects you from liability that is wholly the result of another partner's independent actions. You retain unlimited liability for your own conduct, actions involving fraud, actions of employees in your supervision. On top of that there is a layer of fiduciary duties not to mention an ethical regulatory system that can give you the professional death penalty (disbarment) for conduct that many businesspeople wouldn't even think twice about (self-dealing, representing two sides of a transaction, etc).