Summary: LegalZoom makes the majority of its money from business formation and registered agent services. They make money from multiple services available when helping someone set up a new business and then they also receive yearly subscription fees for those using their registered agent services. Aside from the main revenue drivers, they also make money with their business license and estate planning services.
Visit WebsiteTop Ways LegalZoom Makes Money
We break down the top ways that LegalZoom makes its money. These are just the main ways they make money and don’t include all of the revenue-generating products and services they currently offer.
- Business Formation – LegalZoom is known for helping businesses get started and this is where they make a lot of their money. They charge fees for the various services needed to start your LLC or corporation.
- Registered Agent Services – Another way that LegalZoom makes a large portion of its revenue is from registered agent services. This is a service that helps current businesses stay up-to-date on their business filings and be notified of any lawsuits and other actions against the company.
- Other Ways They Make Money – The business formation and registered agent services make up the vast majority of their revenue according to their earnings reports. Besides the main ways they make money, they also make revenue from products and services in estate planning, divorces, business licenses, and more.
LegalZoom is a public company, which means you can dive into their finances and see which of their products and services bring in the most money. Every quarter is reported on their investor’s website along with calls breaking down how they make money and how much each quarter.
About LegalZoom
LegalZoom is a company that provides online legal services for individuals and small businesses. Founded in 2001, its mission is to democratize law, making it more accessible and affordable for everyone. The company operates primarily in the United States and offers a range of services that cater to various legal needs.
One of the key services offered by LegalZoom is assistance with the formation of business entities, such as LLCs (Limited Liability Companies), corporations, and nonprofits. They provide a streamlined process for filing the necessary paperwork, helping business owners navigate the complex legal requirements of starting a company.
In addition to business formation, LegalZoom offers a variety of other legal services. These include drafting and reviewing legal documents like wills, trusts, and real estate leases. They also offer intellectual property services, such as trademark and patent filings, providing a more affordable option for protecting intellectual property.
LegalZoom is not a law firm, and it does not provide legal representation. Instead, it offers self-help services at the user’s specific direction and has a network of independent attorneys who can provide legal advice through its legal plans. This model allows users to access legal services at a lower cost than traditionally hiring a lawyer.
The company has been a pioneer in the legal technology space, leveraging the internet to provide legal services and information. Its platform is designed to be user-friendly, making it easier for people without legal expertise to complete necessary legal tasks.
LegalZoom has had a significant impact on the legal industry, challenging traditional models and making legal services more accessible. It remains a popular choice for individuals and small businesses needing legal assistance without the high costs associated with traditional law firms.
FAQ:
How does LegalZoom make most of its money? According to their earnings report, they make the vast majority of their revenue through the price they charge for their business formation service along with the yearly subscription fee for registered agent services.
Note: This is just general information about LegalZoom and how they make money. This is just for entertainment and shouldn’t be used as investment advice. LegalZoom will change the way they make money over time so this page may not be up to date.