Harland Stonecipher was an influential American businessman known for his innovative contributions to the legal service industry. His journey began in Ashland, Oklahoma, where he was born on June 4, 1938. Through determination and resilience, he founded LegalShield, a company that revolutionized access to legal services for many individuals across the United States and Canada.
Stonecipher's story is not just one of business success; it is also a testament to the power of overcoming challenges. After facing a life-altering car accident, he experienced firsthand the difficulties of navigating legal battles. This experience ultimately led him to create a solution that would help others avoid the same plight. The tale of his entrepreneurial spirit and the legacy he left behind is one of inspiration.
Harland Stonecipher at a Glance
At the time of his passing, Harland Stonecipher had a net worth of approximately $50 million. He was best recognized as the founder of LegalShield, a company that has changed the landscape of legal services by making them more accessible to the average person. As Chairman of the Board and former CEO, he played a pivotal role in the company's growth and development since its inception in 1976.
Stonecipher's business acumen was not limited to LegalShield. He also served as an executive for several subsidiaries and contributed to the board of AMS Health Sciences, Inc. until 2005. His leadership and vision were instrumental in establishing a brand that continues to thrive in the legal service market.
What Inspired the Creation of LegalShield?
The concept of LegalShield emerged from a personal challenge that Stonecipher faced in 1969. After a serious motor vehicle accident, he found himself in a legal battle that drained his life savings despite being the victim. This experience sparked an idea in him that would ultimately lead to the founding of Pre-Paid Legal, which later became LegalShield.
Stonecipher’s research into European legal expense plans revealed a significant gap in the American market for affordable legal services. His solution was to offer a membership-based service that provided legal assistance without the hefty costs typically associated with hiring attorneys.
The Evolution of LegalShield
LegalShield's journey began with the establishment of The Sportsman’s Motor Club in 1972, which offered legal expense reimbursement to its members. This innovative approach laid the groundwork for what would become a multi-million dollar enterprise. In 1983, the company embraced network marketing strategies, allowing it to expand its reach significantly.
By going public on the NASDAQ in 1984, LegalShield gained even more visibility. The acquisition of The People's Network in 1987 and the subsequent listing on the New York Stock Exchange in 1999 marked significant milestones in its growth. In 2011, after being acquired by a private equity firm, the company rebranded as LegalShield, solidifying its position in the market.
Harland Stonecipher's Legacy
Harland Stonecipher's contributions to the legal service industry are profound. His vision not only created a successful business but also transformed how individuals access legal help. His story is one of resilience, innovation, and the relentless pursuit of making a difference in people's lives.
Upon his death on November 10, 2014, at the age of 76, Stonecipher left behind a legacy that continues to impact countless individuals. His innovative approach to legal services remains a testament to the power of entrepreneurship and the importance of addressing consumer needs in the marketplace.
