Legal zoom stock news –
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Listed exchange for this security. Available documents include wills and living trusts, business formation documents, copyright registrations, and trademark applications. The company also offers attorney referrals and registered agent services. LegalZoom is a disruptive innovator in the market for legal services. Its efforts to utilize computer technology to provide affordable and accessible legal services have been noted by both the American Bar Association and in the business press.
LegalZoom claims the use of computer technology often results in lower prices for the specific services it renders than those charged by traditional lawyers. The company asserts that this disruption benefits people who otherwise could not hire a lawyer by expanding their access to legal services.
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Legal zoom stock news.LegalZoom.com, Inc. (LZ)
Legal-tech company LegalZoom made its trading debut on the Nasdaq today, trading under the ticker LZ. The company was founded to “democratize law” through flat-fee subscription services for small businesses. Robert Shapiro, best known for representing O. Simpson, is one of the company’s co-founders. LegalZoom, along with legal-tech software Intapp, made waves when they filed for IPOs earlier this month. We scoured LegalZoom’s S-1 filing for everything you need to know about the company, its legal risks, and its plans for growth:.
LegalZoom has a network of more than 1, independent attorneys and 75 in-house tax advisors. Since its founding in , LegalZoom has expanded to provide compliance, tax, and business services. Its compliance solutions now make up most of its subscription services, according to its S For instance, in most states, small businesses must have a registered agent to receive mail and court documents at a physical address during normal business hours.
LegalZoom offers a registered agent subscription to digitize this process. The growth was spurred by the pandemic, according to legal-tech expert Scott Mozarsky.
As the pandemic winds down and the “offline” economy reopens, however, LegalZoom fears that the “tailwinds” created could slow down, according to its S-1 filing. In the US, only licensed lawyers can provide legal services. LegalZoom has been sued multiple times for alleged unauthorized practice of law.
A Missouri resident who used LegalZoom to prepare a will and two other individuals who used it to organize a remodeling business filed a class-action lawsuit in , alleging the company illegally practices law. A class action accused LegalZoom of drafting a flawed estate plan. Both cases were ultimately settled in , and LegalZoom has denied all wrongdoing. In some jurisdictions, LegalZoom has already begun taking on the role of a licensed lawyer. In the UK, its subsidiary operates under an alternative business structure that allows non-lawyer entities to become licensed providers of certain legal activities.
Despite the lawsuits it’s faced, LegalZoom has said it may consider implementing similar alternative structures in the US. Utah and Arizona recently began allowing non-lawyers to provide legal services.
Another potential legal hurdle concerns the gig economy. While the gig economy accelerated small-business creation and expanded LegalZoom’s target market, recent legislation on companies’ treatment of independent contractors — like the attorneys and accountants on LegalZoom’s platform — could also expose it to employment liability. Keep reading. For you. US Markets Loading H M S In the news. Yoonji Han. Share icon An curved arrow pointing right. Twitter icon A stylized bird with an open mouth, tweeting.
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It symobilizes a website link url. Copy Link. LegalZoom, which provides services to small businesses, made its Nasdaq debut on Wednesday. The company has faced a string of lawsuits for unauthorized practice of law.
We scoured LegalZoom’s S-1 filing for everything you need to know about the company, its legal risks, and its plans for growth: LegalZoom targets the growing small-business market LegalZoom has a network of more than 1, independent attorneys and 75 in-house tax advisors.
LegalZoom has faced a rash of lawsuits for illegal practice of law The company also faces some legal risks. Sign up for notifications from Insider! Stay up to date with what you want to know. Deal icon An icon in the shape of a lightning bolt. Additional comments. Email optional. Receive a selection of our best stories daily based on your reading preferences.