Latest news with #IDShield
Business Wire
19-05-2025
- Business
- Business Wire
New Study: Legal Pitfalls Dent Small Business Owners' Bottom Line, Yet Most Forgo Counsel
ADA, Okla.--(BUSINESS WIRE)--Nearly one in five small businesses lost over $5,000 to preventable legal issues last year, while 40% missed revenue opportunities due to legal uncertainties, according to a new LegalShield study revealing how outdated perceptions about legal services are undermining America's small business sector. 'Every hour a small business owner spends dealing with legal issues is an hour they're not serving customers, selling products, or growing their business,' said Warren Schlichting, LegalShield CEO. Share Released during National Small Business Month, LegalShield's study reveals a troubling gap between entrepreneurs' legal needs and their willingness to address them—even as regulatory demands and economic pressures intensify. The study reports: 61% of small businesses worry about accidentally violating laws or regulations 83% say access to affordable legal services is somewhat, very or extremely important A quarter of small businesses have considered closing their business due to legal challenges More than 1 in 4 spend 3-5 hours a week dealing with legal matters "Most small business owners only turn to attorneys when they're already facing litigation—that's the wrong approach. Using a health analogy, it's like not taking care of yourself and ignoring aches and pains until you need an expensive operation," said Michael Fiffik, a LegalShield provider attorney. "By proactively working with an attorney, businesses can prevent costly contractual claims, avoid regulatory fines and penalties, make informed decisions, and give themselves important legal advantages when inevitable challenges arise." 'Every hour a small business owner spends dealing with legal issues is an hour they're not serving customers, selling products, or growing their business,' said Warren Schlichting, LegalShield CEO. 'They often believe legal help is too complicated and expensive, but that perspective can end up costing them far more in the long run as they try and handle matters on their own. Legal support should be simple, accessible and above all affordable.' Study Methodology: LegalShield surveyed 299 small business owners and managers across the United States, completed on April 5, 2025. Respondents ranged in age from 25-80 years, balanced according to basic U.S. Census demographic data. The sample included representation from all U.S. regions. All respondents self-identified as owners or managers of small-to-medium businesses. About LegalShield: For more than 50 years, LegalShield has provided everyday Americans with easy and affordable access to legal advice, counsel, protection, and representation. Serving millions, LegalShield is one of the world's largest platforms for legal, identity, and reputation management services protecting individuals and businesses across North America. Founded in 1972, LegalShield, and its privacy management product, IDShield, has provided individuals, families, businesses, and employers with tools and services needed to affordably live a just and secure life. Through technology and innovation, LegalShield is disrupting the traditional legal system and transforming how and where people receive legal guidance and services, with access to hundreds of qualified, trusted attorneys and law firms. LegalShield and IDShield are products of Pre-Paid Legal Services, Inc. To learn more about LegalShield and IDShield, visit and
Yahoo
19-05-2025
- Business
- Yahoo
New Study: Legal Pitfalls Dent Small Business Owners' Bottom Line, Yet Most Forgo Counsel
47% lost at least $500; nearly 1-in-5 lost $5,000+ due to legal issues 40% missed out on new business revenue due to legal fears, lack of advice 60% avoided retaining a lawyer due to perceived cost and complexity ADA, Okla., May 19, 2025--(BUSINESS WIRE)--Nearly one in five small businesses lost over $5,000 to preventable legal issues last year, while 40% missed revenue opportunities due to legal uncertainties, according to a new LegalShield study revealing how outdated perceptions about legal services are undermining America's small business sector. Released during National Small Business Month, LegalShield's study reveals a troubling gap between entrepreneurs' legal needs and their willingness to address them—even as regulatory demands and economic pressures intensify. The study reports: 61% of small businesses worry about accidentally violating laws or regulations 83% say access to affordable legal services is somewhat, very or extremely important A quarter of small businesses have considered closing their business due to legal challenges More than 1 in 4 spend 3-5 hours a week dealing with legal matters "Most small business owners only turn to attorneys when they're already facing litigation—that's the wrong approach. Using a health analogy, it's like not taking care of yourself and ignoring aches and pains until you need an expensive operation," said Michael Fiffik, a LegalShield provider attorney. "By proactively working with an attorney, businesses can prevent costly contractual claims, avoid regulatory fines and penalties, make informed decisions, and give themselves important legal advantages when inevitable challenges arise." "Every hour a small business owner spends dealing with legal issues is an hour they're not serving customers, selling products, or growing their business," said Warren Schlichting, LegalShield CEO. "They often believe legal help is too complicated and expensive, but that perspective can end up costing them far more in the long run as they try and handle matters on their own. Legal support should be simple, accessible and above all affordable." Study Methodology: LegalShield surveyed 299 small business owners and managers across the United States, completed on April 5, 2025. Respondents ranged in age from 25-80 years, balanced according to basic U.S. Census demographic data. The sample included representation from all U.S. regions. All respondents self-identified as owners or managers of small-to-medium businesses. About LegalShield: For more than 50 years, LegalShield has provided everyday Americans with easy and affordable access to legal advice, counsel, protection, and representation. Serving millions, LegalShield is one of the world's largest platforms for legal, identity, and reputation management services protecting individuals and businesses across North America. Founded in 1972, LegalShield, and its privacy management product, IDShield, has provided individuals, families, businesses, and employers with tools and services needed to affordably live a just and secure life. Through technology and innovation, LegalShield is disrupting the traditional legal system and transforming how and where people receive legal guidance and services, with access to hundreds of qualified, trusted attorneys and law firms. LegalShield and IDShield are products of Pre-Paid Legal Services, Inc. To learn more about LegalShield and IDShield, visit and View source version on Contacts LegalShield Media Contact: Hollon Kohtz, Director of Communicationshollonkohtz@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
03-04-2025
- Business
- Yahoo
LegalShield Names Jaymee Johnson Chief Marketing Officer
Assurance IQ, T-Mobile, Amazon veteran tasked with driving growth for legal services provider ADA, Okla., April 03, 2025--(BUSINESS WIRE)--LegalShield has hired Jaymee Johnson as chief marketing officer to lead the company's growth initiatives and expand its mission of providing affordable legal and identity theft protection to more North Americans. Johnson, a senior marketing executive with experience at Assurance IQ, T-Mobile and Amazon, will oversee brand strategy, performance marketing and ongoing member communications for the company. "Jaymee's data-driven marketing expertise, merchandizing skills and overall success growing subscription-based businesses make him an outstanding addition to our leadership team," said Warren Schlichting, LegalShield CEO. "His experience will be invaluable as we expand our reach and continue making legal protection even more accessible and affordable." Johnson most recently served as Chief Marketing Officer at Assurance IQ, a wholly owned subsidiary of Prudential Financial, where he grew revenue through digital strategies that significantly elevated both customer experience and lifetime value. His approach transformed Assurance IQ's customer model from transactional to relationship driven. "When legal help is out of reach, justice becomes a luxury," said Johnson. "My focus as CMO will be breaking down barriers through smart marketing and clear communication." Previously, as General Manager for T-Mobile MONEY, Johnson built T-Mobile's digital bank from product concept to 200,000 active accounts. He also served as a founding member of Softcard, the mobile payment joint venture between AT&T, T-Mobile and Verizon. Johnson holds both his undergraduate and MBA degrees from MIT. About LegalShield: For more than 50 years, LegalShield has provided everyday Americans with easy and affordable access to legal advice, counsel, protection, and representation. Serving millions, LegalShield is one of the world's largest platforms for legal, identity, and reputation management services protecting individuals and businesses across North America. Founded in 1972, LegalShield, and its privacy management product, IDShield, has provided individuals, families, businesses, and employers with tools and services needed to affordably live a just and secure life. Through technology and innovation, LegalShield is disrupting the traditional legal system and transforming how and where people receive legal guidance and services, with access to hundreds of qualified, trusted attorneys and law firms. LegalShield and IDShield are products of Pre-Paid Legal Services, Inc. To learn more about LegalShield and IDShield, visit and View source version on Contacts LegalShield Media Contact: Hollon Kohtz, Director of Communicationshollonkohtz@ Sign in to access your portfolio
