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Title: Prepaid Legal Business Opportunity Review View count: 58 Rating: 0 (0 ratings) Description: http://tinyurl.com/ycmb58p Pre-Paid Legal Services began on July 11, 1969 when CEO and founder Harland C. Stonecipher was involved in a vehicle accident which left him with legal bills. He began researching the industry of European legal expense plans. On August 8, 1972, Harland Stonecipher created Pre-Paid Legals predecessor, The Sportsmans Motor Club, offering legal expense reimbursement services as a motor service club. Pre-Paid Legal started selling plans through network marketing in 1983. Pre-Paid Legal went public on the NASDAQ National Market System in 1984, and two years later moved to the American Stock Exchange. In 1997, after a FTC investigation, Pre-Paid Legal admitted misleading customers and suspended sales of living trusts.[1] On May 13, 1999, Pre-Paid Legal moved to the New York Stock Exchange, and within four months was listed as the 33rd fastest growing company on the NYSE, according to Equities Magazine. In 2000, Pre-Paid Legal made the Forbes list of the 200 Best Small Companies in America for the fifth year in a row. In 2001, the Wyoming Attorney General classified Pre-Paid Legal as a "multi-level marketing" organization and won refunds for multiple customers who were defrauded by misleading earnings claims.[2][3] Pre-Paid Legal has faced ongoing troubles in Missouri. After the company settled complaints in 2001, a number of similar suits arose. The company won in a jury trial against two plaintiffs,[4] but later settled with more than 400 others, including one customer who was awarded $9.9 million. The company, and the U.S. Chamber of Commerce of which Pre-Paid Legal CEO Harland Stonecipher is a director,[5] have described the lawsuits against the company as "frivolous" and "abusive".[6] Pre-Paid Legal reported to the SEC that under 25% of its sales representatives sold more than one insurance plan in 2005, but avoids reporting such information to prospective sales representatives.[1] In 2007, Pre-Paid Legal made the Forbes list of the 200 Best Small Companies in America again. The company currently provides services in all 50 states, Washington, D.C., and five provinces in Canada, with over 1.7 million members. Currently most plans are sold through the network marketing system (also known as multi-level marketing). It is also sold as an employee benefit through payroll deduction. Tags: prepaid legal, prepaid legal review, prepaid legal service, prepaid legal training, prepaid legal associate, prepaid legal compensation, Author: nozmarketing |
