The firm was initially called Lawyers Direct, and brought attention to itself through promotional efforts such as distributing 1,000 bags of peanuts at a Department of Trade and Industry awards ceremony with their logo and the slogan, "These days you have to be nuts to pay for overhead".

[6] In 2008, the firm re-branded as Keystone Law, due to concerns that it was overly associated with personal injury work,[5] contrary to the broader and higher-level experience of many of the lawyers involved.

[7] Lawyers are generally been recruited from other firms after garnering six to ten years of experience in practice, depending on the office,[4][8] and do not have a set target for billable hours, instead being paid a percentage of the fees generated by their work.

[13] In January 2016 Keystone announced the opening of an office on the Isle of Man, which required the establishment of a new law firm there, under local regulations.

[17] In November 2017, Keystone announced plans to become the third firm in the UK to be listed on the London Stock Exchange, with an initial public offering.