How it started
Sportsman's Motor Club
The company was founded in Ada, Oklahoma, in 1972 by insurance salesman Harland Stonecipher as the Sportsman's Motor Club. Stonecipher developed the business after incurring legal expenses following a 1969 automobile accident. After researching legal-expense plans offered in Europe, he established the company to reimburse members for legal fees arising from automobile accidents.
Pre-Paid Legal Services
The club changed its name and incorporated as Pre-Paid Legal Services, Inc. in 1976. The company expanded the concept beyond automobile-related legal expenses to prepaid legal plans for individuals. Initially, members could select their own lawyers and obtain reimbursement from the company; by the 1980s, members seeking covered services were directed to designated provider firms.
Pre-Paid Legal became publicly traded in 1984. It was initially listed on the NASDAQ, moved to the American Stock Exchange in 1986 and later moved to the New York Stock Exchange in 1999, where it traded under the symbol PPD.
In 1998, Pre-Paid Legal acquired The People's Network, a Dallas-based marketing company that operated a satellite television network used in part to provide programming to the company's sales force.
From Wikipedia’s article on LegalShield, shared under CC BY-SA 4.0.2
