This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Back To The Future In Legal Services: 40 Years And Counting

ADA, Okla., May 19, 2011 /PRNewswire/ -- As Pre-Paid Legal Services, Inc. (NYSE: PPD) approaches its 40th year anniversary, the legal profession (and industry) in the U.S. is undergoing profound change. As noted in the April 2, 2011 "Report of the Task Force on the Future of the Legal Profession," sponsored by the New York State Bar Association, there is a "sea change" taking place in the legal profession and in "the value proposition upon which the relationship between lawyers and clients is based."

Although much of the report focuses on corporate law and major law firms, the industry as a whole is changing. According to a May 5, 2011 Economist story, "Ultimately, lawyering is becoming more of a business than a profession. Some lawyers decry this. Others welcome it. Few deny it."

Pre-Paid Legal Services, Inc. (PPD) and the network of independent provider law firms embrace the concept. As the professional and academic debate about the future of "big law" continues, PPD provider attorneys are delivering practical, cost-effective and efficient legal counsel and solutions in a plan-based format for the everyday legal issues that affect members (customers) throughout the U.S. and four provinces of Canada.

Attorneys from among the 38 independent law firms that provide legal services to PPD members were asked to offer their perspectives on the PPD business model and delivery practices compared to traditional, private practice law.

Differences in delivery models

"The private practice and the Pre-Paid Legal delivery models are as different as night and day," said Jim Merritt, of Merritt, Flebotte, Wilson, Webb & Caruso, PLLC, the Durham, North Carolina-based law firm and PPD service provider.

"The differences in these business models and the way the services are delivered reflect the revolution now under way in the legal services industry. The Pre-Paid Legal delivery model provides for quality legal service at lower cost, increased responsiveness, customer-oriented service and access to the legal system for many who otherwise couldn't afford it," Merritt said.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.01 0.00%
FB $99.75 0.00%
GOOG $682.74 0.00%
TSLA $147.99 0.00%
YHOO $27.05 0.00%


Chart of I:DJI
DOW 16,027.05 -177.92 -1.10%
S&P 500 1,853.44 -26.61 -1.42%
NASDAQ 4,283.7530 -79.3910 -1.82%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs