Debt Collection, Customer Lawsuits and Internet Security are The Greatest Legal Risks Facing Small Businesses

DALLAS, Sept. 22, 2014 /PRNewswire/ -- A survey conducted by LegalShield, one of the nation's leading providers of legal safeguards for individuals, families and small businesses, revealed that debt collection, followed closely by threats of customer lawsuits, internet security and contractual agreements, are the top legal risks facing small businesses.

In correlation with these survey results, LegalShield announced today that it will be upgrading its prepaid legal service plans for small business owners. The updated plans are categorized based on the number of employees within the small businesses and include the following: Small Biz 10 for small businesses with 10 or fewer employees for just $39 a month; Small Biz 50, for small businesses with 50 or fewer employees for just $89 a month; and Small Biz 100 for small businesses with 100 or fewer employees for just $149 a month.

"Small business owners face a myriad of challenges and unexpected developments every day," said James Rosseau, President of LegalShield Business Solutions. "Affordable legal protection shouldn't be one of them. With our updated legal plans, small business owners can lean on their experienced LegalShield provider law firms for assistance, allowing them to focus on taking their business to new heights instead of being hampered by legal issues."

The small business survey also revealed that the vast majority of small businesses (75 percent) haven't considered using a prepaid legal firm to assist them. Yet, on average, the businesses surveyed spent $3,382 on an attorney in the past twelve months. Meanwhile, a small business enrolled in LegalShield's Small Biz 100 would have spent nearly less than half, with $1,788 in legal costs, while a small business enrolled in Small Biz 10 would have spent almost 90 percent less. Nearly 40 percent of the small businesses surveyed said they won't hire a lawyer when facing legal issues because it's too expensive.

About LegalShield
LegalShield is one of the nation's leading providers of legal safeguards for individuals, families and small businesses. LegalShield also offers one of the industry's most affordable identity theft plans. Members receive identity theft protection for the entire family for the cost most competitors charge to cover a single individual. LegalShield legal plans cover more than 1.4 million families and 3.7 million lives across North America. For as low as $20 per month, LegalShield members get access to attorneys who are experienced in the areas of law that most impact families and small businesses. Unlike other legal plans or do-it-yourself websites, LegalShield has dedicated law firms in 49 states and four provinces in Canada that members can call for help without having to worry about high hourly rates. The attorneys at these firms have an average of 19 years of experience in such areas as family matters, estate planning, financial and business issues, consumer protection, tax, real estate, benefits disputes and auto/driving issues. In 2013 alone, LegalShield firms received more than 1.8 million calls from members. For more information, visit www.legalshield.com or call 800-654-7757. 

About LegalShield Business Solutions
LegalShield Business Solutions is the business to business division of LegalShield that specializes in employee benefits and small business legal safeguards in the U.S. and Canada. LegalShield Business Solutions supports independent associates, as well as insurance professionals, and private exchanges who offer legal and identity theft plans to employee groups and small businesses as part of their portfolio.   LegalShield Business Solutions provides small business legal plans that cover small business with up to 100 employees and offers key benefits including legal consultation on unlimited matters, contract and document review, legal correspondence and debt collection assistance. More than 34,000 companies currently offer LegalShield Legal and Identity Theft plans to their employees for an affordable monthly fee, and over 47,000 Small Businesses use the Legal service.  In addition to small business and employee benefits safeguards, LegalShield Business Solutions offers a Commercial Driver Legal Plan to protect commercial driver rights on and off the road, and an Affinity program practice, which develops co-marketing partnerships with other like-minded organizations.  

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SOURCE LegalShield