LegalShield

LegalShield
Formerly
  • Sportsman's Motor Club (1972–1976)
  • Pre-Paid Legal Services, Inc. (1976–2011)
Company typePrivate
IndustryLegal services
Founded1972; 52 years ago (1972)
FounderHarland Stonecipher
Headquarters
Ada, Oklahoma
,
U.S.
Areas served
  • United States
  • Canada
Key people
Products
Services
  • Legal services
  • identity theft monitoring and restoration
Revenueest. $400 million[1] (2014)
OwnerMidOcean Partners
Stone Point Capital[4]
Further Global[5][6][7]
Number of employees
700[8] (2014)
Websitelegalshield.com

LegalShield (previously known as Pre-Paid Legal Services or simply Pre-Paid Legal) is an American corporation that sells legal service products direct to consumer through employer groups and through multi-level marketing[9] in the United States, and Canada. It was available in the United Kingdom from 2019[10] to 2021.[11] According to LegalShield's income disclosure regarding associates selling the product: "For Associates with 0-2 years of experience who made at least one sale, average annual earnings were $798 for 2019. Approximately 73% of all Associates across experience years made less than $1,000 in 2019."[12]

The company was founded in 1972, as the Sportsman's Motor Club. In 1976, it was incorporated as Pre-Paid Legal Services, Inc., and made its initial public offering in 1984.

In 2011, Pre-Paid Legal went from being traded on the New York Stock Exchange back to being a private company when it was acquired by MidOcean Partners and subsequently changed its name to LegalShield.

  1. ^ a b Silcox, Beth Douglass (March 2, 2015). "Company Spotlight Equal Access, Equal Adaptability: LegalShield's Moral Imperative to Grow". Direct Selling News. Plano, Texas: VideoPlus. ISSN 1554-6470. Retrieved March 8, 2017.
  2. ^ "Company Information: Leadership". LegalShield. Archived from the original on February 11, 2017. Retrieved March 8, 2017.
  3. ^ "LegalShield Executive Team". LegalShield USA. Retrieved 8 July 2021.
  4. ^ Udland, Tyler (27 February 2018). "Stone Point to Buy Majority Stake in LegalShield From MidOcean Partners". S&P Global. Retrieved 28 May 2021.
  5. ^ Udland, Tyler (10 September 2020). "LegalShield accelerates deadline for $135M add-on TLB to Sept. 11". S&P Global. Retrieved 28 May 2021.
  6. ^ "Further Global Capital Management and Stone Point Capital Acquires LegalShield". Mergr. Retrieved 28 May 2021.
  7. ^ "Companies". Further Global Capital Management. Retrieved 28 May 2021.
  8. ^ Burkes, Paula (September 7, 2014). "Executive Q&A: LegalShield chief comes home to Oklahoma roots". The Oklahoman. Oklahoma City: The Oklahoman Media Company. Retrieved February 24, 2017.
  9. ^ Weiss, Debra Cassens (7 April 2016). "Insurer offers legal insurance directly to consumers for $16.25 a month". ABA Journal. Retrieved 24 June 2020.
  10. ^ Rose, Neil (29 November 2018). "Slater & Gordon backs app offering legal advice for £24 a month". Legal Futures. Retrieved 24 June 2020.
  11. ^ Rose, Neil (20 May 2021). "Exclusive: Pioneering legal services advice app shut down". Legal Futures. Retrieved 29 May 2021.
  12. ^ "LegalShield Income Disclosure".