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Pre-Paid Legal Services®, Inc. was one of the first companies in the United States organized solely to design, underwrite and market legal expense plans. For a low monthly fee of $26 or less, the Company's legal expense plans (referred to as members
By: Sandeep Vaid, Independent Associate,Pre-Paid Legal
1970-1979 - On August 8, 1972, Harland Stonecipher creates Pre-Paid Legal’s predecessor, The Sportsman’s Motor Club, offering legal expense reimbursement services as a motor service club. In 1974, Stonecipher speaks at the American Bar Association’
1980-1989 – In 1980, Wilburn Smith, one of Pre-Paid Legal’s most successful Associates, quits his job at a local supermarket and joins the Pre-Paid Legal sales force. The introduction of the network marketing concept by John Hail takes hold in the ’80s and Pre-Paid Legal first initiates sales through network marketing in 1983. Pre-Paid Legal is listed on the NASDAQ National Market System in 1984, and two years later moves to the American Stock Exchange. At the end of the decade, Pre-Paid Legal “tightens the belt.” In response to operating losses in the first two quarters, the company implements major restructuring of its administrative and marketing functions. Layoffs at the Home Office result in a 46 percent decrease in personnel. The home office staff numbers 114.
1990-1999 – A pivotal decade, the ’90’s ushers in challenges the company has not yet seen and hardens the resolve of the most dedicated within the company. Hard times are evidenced by the move from over 230 employees in 1987 to 85 in 1990. Restructuring and careful business practices results in the company rebounding to a staff of 491 at the end of the decade. Additionally, on May 13, 1999, Pre-Paid Legal moves to the New York Stock Exchange, and within four months is listed as the 33rd fastest growing company on the NYSE!
2000 – Present – In 2000, Pre-Paid Legal makes the Forbes list of the 200 Best Small Companies in America for the fifth year in a row. As Pre-Paid Legal Founder Harland Stonecipher co-authors The Pre-Paid Legal Story, his company now surpasses the one million membership mark. In 2001, Pre-Paid Legal finalizes building plans for a new $30 million corporate campus. With memberships now available in 48 states and four provinces and the corporate campus finished, Pre-Paid Legal is positioned for exceptional growth and success. A home office staff of over 700 now supports over 1.5 million Members and Independent Associates across North America.
For more information, or to become a Prepaid Legal Member email me at Vaids@prepaidlegal.com, or at VaidsPPL@Gmail.com
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We give members access to professional legal counsel not only for traditional legal problems, but for everyday events such as:
* buying a house or a car
* creating a will
* handling a problem with an insurance company
* dealing with identity theft
Page Updated Last on: Oct 14, 2008