Back in 2001, LegalZoom was considered the One and only reliable LLC incorporation service provider to get your business started. Founded over 20 years ago with one mission – helping small businesses get their start by providing reliable legal services for entrepreneurs at an affordable price.
It was once in fact, one of the best formation services to secure your business legally and had great support of consumer confidence.
However, things are not the same now. In today’s era, when the world is groundbreaking day by day, competitive edge in the business field is also rising high to such an extent that it has become difficult for the already established companies to keep up the pace.
Just for instance, companies like LegalZoom that were once considered unbeatable have now become a second to no choice for the consumers to consider.
LegalZoom that was once a recognized name for legal business registration is not the only choice left for you to incorporate your LLC, not only because there are many rivals in the field, but also because a lot has changed and many new aspects have started to be considered.
Incorporating an LLC is not a simple process, it is not only about registering a business legally, but also brings in many other legal aspects that a service-providing company has to consider such as indemnity is also considered along with liability as well as company’s legal insurance.
So, though LegalZoom was a complete package of providing limited liability to your business, it was still missing a lot (like it was not permitted to engage in the practice of law) that made space for other companies to put feet in the ground.
There are many other reasons that explain why LegalZoom is not the only choice left, let’s have a look at a few of them to get a better view.
Disruptive Innovation in Legal Services
Just like other fields, disruptive innovation has played a great role in displacing many of the well-established legal service providing companies like LegalZoom too. It specifically transformed the manner of delivering legal services which majorly includes automation and online delivery services.
Moreover, disruptive innovation has even given the access to the clients to inspect every company before hiring via reviewing information.
Though the young companies have started to adhere to these changes, however old and established companies like LegalZoom made their move quite late which caused a major disruption in their prominence and brought forward other companies for the consumers as new reliable options.
Increase in Competitive Edge
Though LegalZoom was once a renowned name for responding in real-time to its customers and that was the biggest advantage it held back then over its rivals that made it the only choice for its consumers to consider.
However, with the emergence of new competitive intelligence which new companies and rivals have introduced, it has become difficult for LegalZoom to find a new competitive edge to stay ahead of the race.
So based on the fact that there are many legal service providers out in the market like ZenBusiness, that compared to LegalZoom provides high-end facilities to its customers and hold a strong competitive edge in the industry, it’s quite cleared that LegalZoom is not the only choice to incorporate your LLC anymore.
Stability and Responsiveness
With the change of time, consumer’s requirements have also changed. The legal services that people required 2 decades earlier are not the same anymore.
Many new needs have aroused, like said earlier a business’s legal registration is not confined only to provide limited liability but also involves other aspects. Therefore, consumers are always looking for such companies that are stable and responsive to all their new arising needs.
Unfortunately, the old companies like that of LegalZoom couldn’t make it to fit all the requirements of its customers whereas, on the other hand, the newcomers in the field have easily managed to respond to all the challenging needs of their clients, thus providing the customers with a wide range of options to choose from rather than just the one.
Fresh Talent – Updated Strategies
As it has been almost 20 years since LegalZoom stepped in the law firm, therefore its basis has been put on outdated strategies. Though the team has worked hard to update all their plans and have even succeeded to a large extent, yet still there is a bit of meagerness that proves it to be a little outdated, thus making it a second choice on the customer’s list. While on the contrary, fresh talents with new strategies in their minds are stepping into the field and providing the consumers with a wide array of modernized and more reliable options to incorporate their LLCs.
Availability of affordable Companies
For entrepreneurs and startups, the cost really matters a lot. It’s not a surprise that consumers are always looking for the services with the most reasonable prices. When it comes to LegalZoom, the matter is quite the opposite.
Though their basic package is not that expensive, however when it comes to their premium and other high-end packages, the prices are really on the high side and that too with not many features. This is why the customers are not ready to pay for such an expensive service when there are other formation companies out there that are providing far better services at a much more affordable price.
Direct Competition with the Lawyers
As with most of the company formation services that work under affiliation with the lawyers, Legal Zoom stands on a separate road. We all know that LegalZoom is a non-lawyer legal formation service provider, this puts it in direct competition with the lawyers. Though this is its plus point, yet it also involves it in a continuous state of challenge and rivalry which most clients do not appreciate because those with the affiliation with lawyers reveal to be more efficient in their services, this fact makes the consumers to choose other formation services upon LegalZoom.
So it is evident that, even though LegalZoom is still one of the best Legal service providers for small business entities, however, it is not the only choice for the entrepreneurs to incorporate their LLCs, as it was years back.
