LegalZoom is an online legal resource that provides legal document resources to individuals and small businesses. This online legal documentation site has helped millions of individuals and small businesses with legal forms such as licenses, taxes, and legal permit forms for more than 20 years.
What services does LegalZoom provide?
LegalZoom provides a variety of services to assist with the forms process needed for many legal services. Some of these services include acquiring documentation for business names, business compliance, formulations of business such as an LLC or Nonprofit, as well family law such as divorce and estate planning.
How is LegalZoom is used?
LegalZoom accommodates a wide variety of legal form assistance services to their consumers. The website’s main feature is to navigate its users through the form-filling process that allows them to correctly complete legal forms and providing information on filing them. Currently, the company provides approximately 50 different varieties of legal forms and documentation to assist their customers. These form services include documentation needed for family law cases, estate planning, creating legal forms for a business, and other documentation. The majority of individuals who use LegalZoom utilize the service for both company and personal needs as online legal form solutions.
How does LegalZoom help businesses?
LegalZoom started its business with the goal of helping businesses with legal documentation forms. To date, the most popular product options that customers purchase are the legal forms needed to establish a business license, LLC, or an EIN. Additionally, LegalZoom references experts and lawyers to answer business entity questions, such as “Do I need to register my business if it is a sole proprietorship?” These features help guide new business owners to the legal forms they need to establish their business.
LegalZoom provides the documents businesses will need for legal dealings and walks the user through the form-filling process; however, they are not legal assistance or services in the event of filings and any court proceedings. For example, if a business needs to acquire an LLC, LegalZoom walks the user through the forms process of documentation required. However, LegalZoom will not file or submit the legal paperwork; the company is not licensed to practice law. Its sole aim is to provide accurate, compliant documentation.
History of LegalZoom
Founded in 2001, LegalZoom has been assisting with legal applications and forms for individuals and small businesses since its initial launch. Beginning with just ten initial services, the company initially provided documentation assistance in the focus domain of statutory business establishment. Over the years, they expanded to provide further form assistance to other legal document needs. Currently, they offer personal and business legal forms, including those needed for small business formation, family law documentation, estate planning, and real estate law.
Although LegalZoom has been around for over 20 years, there are several other well-known leading competitors in the online legal documentation industry. Two of the notable competitors of LegalZoom’s are ZenBusiness and RocketLawyer. ZenBusiness acheived an annual revenue of $16.8 million compared to LegalZoom’s $9.9 million of same year profits. LegalZoom’s competitor, Rocket Lawyer, claims annual revenue averages are between $10 to $50 million in revenue.