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LegalShield

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LegalShield
Founded1972
FounderHarland Stonecipher
Headquarters
Ada, Oklahoma
,
United States
Area served
United States, Canada
Key people
Rip Mason (CEO)
ProductsPre-paid Attorney, Legal services
ServicesLegal services, Identity theft restoration
Revenue$461 million
OwnerMidOcean Partners
Number of employees
813
DivisionsKroll Inc.
Websitehttp://www.legalshield.com/

LegalShield is an American corporation that sells legal service products through multi-level marketing in the United States and Canada. The company was originally founded August 8, 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. Pre-Paid Legal Services, Inc. was acquired by MidOcean Partners in 2011 and changed its name to LegalShield.

Company description

LegalShield develops and markets pre-paid legal service plans through a network of more than 50 independent provider law firms across the U.S. and Canada. The Company also markets an identity theft monitoring and restoration services through its partnership with Kroll Inc..[1] The company's service plans are sold through multi-level marketing.[2] Products are also sold as an employee benefit through payroll deduction. The company has legal service plans for small businesses as well advertised with NFL Hall of Fame player Fran Tarkenton as spokesman.

Subsidiaries

Today, LegalShield has its headquarters in Ada, Oklahoma. The company owns several subsidiaries. Pre-Paid Legal Casualty, Inc. operates in Alabama, Arizona, Arkansas, Georgia, Illinois, Montana, Nebraska, Tennessee, & Wisconsin. There are three subsidiaries that serve individual states: Pre-Paid Legal Services, Inc. of Florida, National Pre-Paid Legal Services of Mississippi, Inc. and Legal Service Plans of Virginia, Inc. The primary purpose of these subsidiaries is to comply with different insurance laws in those states; they consider the product to be an insurance product, while the other U.S. states consider legal service plans to be a service product. PPL Legal Care of Canada Corporation operates in the country of Canada.

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References

  1. ^ "Pre-Paid Legal Services to Add Identity Theft Benefits Provided by Kroll Background America". kroll.com. Kroll Inc. Retrieved March 7, 2010.
  2. ^ "Pre-paid legal services: Worth the money?". cbc.ca.
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