The computer is instructed what to do by the accountant

The main use of computers is to process complicated information. Since computers are so beneficial and widespread, many businesses use computers as a management information system. This is a system of connected subsystems that provide the necessary information to run a business.

The accounting information system is without a doubt, the most important subsystem used because it is the key role in analyzing and managing the flow of financial data of a business. It is important for both parties to know that when goods are sold, what are the price of the item and the timing of the payment. It is also good to know what the stipulations are, if any, that apply to the return of merchandise.

Different companies quote their prices by using different methods. A lot of merchants will generally quote the price that they would like to sell it. On the other hand, some merchants such as manufacturers or wholesalers will usually quote their prices as a percentage of their catalogue prices, generally around 30 percent or more, and this reduction is known as a trade discount.

The terms of sales are usually on the sale invoice. In a lot of industries, the payment is expected within a short time of the purchase. In most industries, a discount is usually offered for an early payment. This type of discount is called a sale discount which has the purposes for increasing a seller liquidly by reducing the amount of money associated with accounts receivable.

In some industries it is expected for the seller to pay for some charges, and in others, it may not. One example is the freight. Free on Board (FOB) shipping basically means that the buyer is paying for all the shipping expenses.

However, FOB destination is the opposite and means that the seller pays the shipping or transportation expenses once it is delivered. A lot of retailers will give buyers the opportunity to charge the shipping expenses to third party service. The five most used credit cards are American Express, Visa, MasterCard, Discover Card, and Diners Club.

The customer is given credit by the lender or credit card issuer and receives a card to charge their purchases to. Once the seller accepts the card, the invoice is automatically prepared, and the seller receives money into their account. If the seller is offering a discount, the discount is recorded as an expense to the seller.

The seller’s merchant also deducts money for each transaction, and that money that is deducted is also recorded as an expense. Freight is the shipping costs that are associated with receiving merchandise and is generally included with the cost of goods sold. A lot of companies like to include the cost of freight in with the cost of the merchandise, because it is a relatively small amount of money.

Sometimes the buyer is expected to pay for the freight, and it is reported as an increase in the accounts payable. Also, if the seller experienced a return because of the wrong item shipped, or for a damaged or low-quality product, then the buyer may be granted a refund for cash or for credit back to their account. The returned purchased is deleted from the merchandise inventory account under the perpetual system.

Sometimes sellers will pay the delivery or the freight costs hoping that it will increase their sales. These expenses are gathered in the delivery expense. This is viewed as a selling expense on the income statement.

When a customer is dissatisfied with a product, they will usually return it and these costs are gathered in the sales returns and allowances account which gives the management a more flexible estimate of what products to keep and which ones to discard of.

Each business must have enough

Each business must have enough money for the cost of doing business but still have adequate money left over. If the cost of business costs more than operating the business, then that is when a business will start to crumble. The need to earn money to hold an investment capital is known as profitability.

However, a business must meet the goal of liquidity. Liquidity refers to having the money available to pay off debts when they are due. For example, a real estate company must meet the goal of profitability by leasing as many houses as they can, but they also must meet the criteria of liquidity when customers do not come up with the capital to pay sometimes.

Both goals must be aced by a company to be successful in their ventures. All businesses try to pursue their goals by engaging in these similar activities. Businesses must start some financial activities to get enough funds or capital so they can continue their operating.

Financial activities include receiving capital from creditors such as banks and other suppliers. On the other hand, they also include paying creditors back. Businesses must also participate in what is known as investing activities.

This refers to the productive spending of capital so that it will help a business attain their goals in an orderly manner. Some examples of investing activities include purchasing land, equipment that the business may need, and buying buildings. These resources are then sold or discarded of when they are no longer needed.

Another essential of every business is participating in operating activities. Besides selling goods and services to customers, operating activities include hiring managers, workers, purchasing goods and services, and paying back taxes to the government. An extremely crucial function of accounting is to provide performance measures.

This refers to the measures of a business that indicates whether managers are achieving or losing their business goals, which helps to determine if a particular business is under good management. It is crucial for the performance to measure up with the goals of a business. Since most managers are evaluated by whether certain aimed goals are accomplished, they must have a very sound understanding of accounting.

Since managers will try to achieve these goals, they must be motivated so that they can perform in the best interest of a business. The typical accounting role of helping decision makers by processing, and communicating information effectively is furthermore divided into the subcategories of financial accounting and management accounting. Financial accounting is used for generating reports and communicating between outside decisions makers to analyze how well the business is performing.

The reports to the outside decisions makers are known as the financial statements. Companies whose stocks are up for grabs on the New York Stock Exchange send their financial statements to its owners or shareholders, and several of other creditors. The financial statements reflect the goals of profitability and liability and are used heavily by every person involved with the business.

If you have any type of business, it is crucial for you to be literate in financial statements. They are the back and bone of accounting. It is critical to distinguish the system of accounting from the ways that information is processed such as bookkeeping, and some type of information management system.

It is only a small part of accounting, but it is a very important method. The major goals of accounting are to analyze and interpret information. The computer is also an important tool in accounting and is used to retrieve and organize information in great time and accuracy.

However, people may assume that the computer does all the work for the accountant, but that could not be farther from the truth.

The periodic inventory system method

Generally, companies that sell items in high quantity but low quality such as discount retail stores will favor the periodic inventory system method. On the other hand, companies that sell high priced and high quality but low quantity items such as jewelry stores will tend to use the perpetual inventory system. The main transaction of a merchandising business comes from buying and selling.

Merchandising business uses assets, merchandise inventory, and accounts receivable. A merchandising business is extremely prone to theft and fraud. That is why it is critical for a merchandising business to take precautions to protect their assets which is commonly referred to as internal controls.

To maintain control of the merchandise inventory, it is required to take a physical inventory. This is the physical count of the merchandise that is currently available. So, accuracy is very crucial during this process.

The merchandise inventory is all the goods that will be sold in the future. The ending inventory is the goods that cannot be sold or are not intended to be sold. The count for the business is usually taken at the end of the fiscal year or when the business will significantly slow down such as January or February.

It is very common for companies to experience loss of merchandise from their own employees. When using the periodic inventory system there is no way of finding out how this happened because the loss of merchandise is automatically included in the cost of goods sold. However, with the perpetual inventory system, it is a lot easier to identify losses because the merchandise inventory account is constantly updated with sales and returns of goods.

Once the amount of loss is calculated, the merchandise inventory account will be updated. Walgreens is a nationwide store chain and has over 3,000 stores and pharmacies. It is a retail store phenomenon and has over 27 years of record crumbling sales.

Customers like their high-class customer service, huge selection, and quality products. Companies with a financial interest in Walgreens look at the past success of the company and evaluate its financial management. The companies that are interested will be seen in the Financial Highlights from the company’s annual report.

Net sales, total assets, net earnings, and stockholder’s equity are all terms that are used to measure the financial stake of the company. Walgreens managers must be skilled in accounting to help maintain the financial stake of the company. However, Walgreens managers are not the only ones that need to be skilled in accounting.

The people who have some type of financial stake in the business such as owners, investors, attorneys, employees, and creditors must also be skilled in accounting so they can analyze the financial achievement of the company. Anyone who is interested in any one of these roles will require some knowledge in accounting and processes. Contemporary accountants focus on the needs of decisions in accounting information, whether these decisions are internal or external to the business.

Accounting can be defined as a system that measures, process, and produce financial information about an economic matter such as a business or a government organization. Accounting serves as a connection between business activities because it records information. First, accounting analyzes business activity by recording data for them that they can use in the future.

Second, the data is not used until it is needed and retrieved when the time is appropriate. Last, the information is analyzed and communicated through reports to the decision makers. One might assume that the data about business activities are the input and the information for decision makers are the output.

A business is an economic entity that sells goods or services to customers at prices that will provide a return to its owners.

Target is a discount store

Target provides good customer service, and high-quality brand name products. Target prices are extremely competitive because they sell well-known merchandises with a nice discount. A merchandising business makes its income by the purchasing and selling of goods.

Every merchandising company uses a similar accounting formula. The cash flow management is important for a merchandising business, and it requires organizing a company’s receipts and payments of money. If a company is not capable of paying its bills when they are needed, then that is when the company will go out of business.

This is very true for merchandising business, and the goods that are sold are known as merchandise inventory. The normal transactions that merchandising business go through is known as the operating cycle. First, the business purchases the merchandise inventory, and pay for it on either cash or credit and then, it sells the merchandise inventory for either cash or credit.

The purchases are usually made on credit which means that the merchandising business must wait some time before they receive the money for it. However, this is not really an issue. The proper management of cash flow is extremely crucial for a merchandising business because they must keep financing the merchandise inventory until they are sold which can be risky.

The financing period is the time from the purchase of goods for merchandise inventory, until the customers come in and purchase the products. This is commonly referred to as the cash gap. Target generally has a low financial period because they usually receive payments by cash, as opposed to credit which takes longer.

The sale of goods on Visa and MasterCard are considered cash sales because they take the money right from the purchaser’s account. Generally, the smaller retail stores have more sales on cash than credit, while the bigger retail stores come mostly from credit. The average merchandising store will have a combination of both.

Also, cash flows are not the only concern of a merchandising business because they also consider profitability. The reason why merchandising businesses sell goods at such a large price is so that they can have enough money left to make an income. Profitability management is a very hard task, and it includes getting a decent margin to maintain appropriate levels of operating expenses.

Getting a decent margin will depend on the appropriate pricing of a product and purchasing merchandise at a fair price. At important times throughout the year, the management should compare its estimated budget to its actual one. Another important aspect of the management is to choose the inventory system properly.

Management must choose one or a couple of systems that will get the job done in a timely manner. There are two basic systems used in accounting for this and they are the perpetual and the periodic inventory system. When using the perpetual inventory system, numerous of records are kept for the quantity available and the cost of the individual items as they are sold.

The cost of an individual item in this system is recorded in the Merchandise Inventory account, and when the item is sold, it is transferred to the Cost of Goods sold account. However, for the periodic inventory system the item that is not sold is checked often, but usually towards the end of an accounting period. No records are kept for the inventory throughout the accounting period.

The inventory is only accurate for the balance sheet date. The reason why some retail stores use this method is because it cuts down on the clerical work. This method is acceptable for small business, but it will not work too well for large businesses.

Retained earnings are affected by three types of transactions

The three types of transactions are revenues, expenses, and dividends. The increase and decrease in a stock are known as revenues and expenses respectively. An example is if a customer agrees to pay you soon for a service that the company will perform, the money is recorded in the accounts receivable which increase the asset value but decrease the stockholder’s equity amount which is an example of revenue.

However, if a company promises to provide a service in the future then this is known as an expense. When this happens, the assets decrease and the liabilities is increased. When the revenues exceed the expenses, this is known as the net income which is good, and on the other hand when expenses are greater than revenues then this is known as net loss which means that you are losing business or your business costs more to operate than what you make.

Dividends are the distribution of assets to stockholders which refer to the past earnings. Do not confuse expenses with dividends, because they both are reducing the retained earnings amount. Retained earnings are the collected net income or revenues minus expenses.

The financial statements are the main way for communicating information about a business to those who have interest in it. These statements show how a business is doing in financial terms. However, like a variety of methods and models, financial statements are not perfect and have their flaws.

There are four main financial statements, and they are income statement, the statement of retained earnings, the balance sheet, and the statement of cash flows. What the income statement does is summarize the revenues earned or the money made, and the expenses or the money that is deducted from a business. Many accountants consider it the most important financial report because it makes it clear whether a business has met its profitability goal.

The statement of retained earnings displays the retained earnings over a period. The time that the retained earnings will be zero is when a company first started out in their accounting period. A lot of companies use the statement of stockholder equity as a substitute of retained earnings.

The statement of stockholder equity is a more detailed statement because it displays not only the aspects of retained earnings, but it also shows the changes in the stockholders’ equity accounts. The financial situation of a business on a particular date, usually on the end of the month or the year is the balance sheet. The balance sheet displays the value of a business according to their assets and the claims against those assets which are the liabilities and the stockholders’ equity.

The statement of cash flows is geared towards a company’s liquidity measures. The statement of cash flows is basically the flow and outflow of cash in a company. The net cash flow is the subtraction between the inflow and outflow of money.

The statement of cash flows also displays the money generated by simply operating a business, and it also displays the investing and financing transactions that occurs during a particular accounting period. Merchandise stores have a couple of objectives. Merchandise stores need to decide on the price that they are willing to sell the merchandise, and the quality of service that they need to give customers.

There are a couple of well-known department stores in the world, and they are Wal-Mart and Target. A department store can have the option of setting high prices for items and providing quality service, or they can become a discount store. A discount store sells items at frugal price but provide little to no customer service.

Sometimes these rules cause a conflict with the accepted rules of accounting

A lot of businesses use accounting practices because it is a requirement by tax law. Also, companies can use the rules of tax law to their advantage financially. Accounting also has laws of conduct for the profession, and one extremely important one is ethics.

It determines if something is right or wrong, based on moral decisions. If a business decides to use false or misleading advertising, or to bribe customers into giving them testimonials for a specific product, then they could be acting in an unethical manner. Professional ethics is the guidelines that apply to the conduct of individuals of a certain profession.

Like the ethical actions of a company, the ethical action of an individual is a decision. It is important for individuals who decide to become an accountant to have the highest levels of professionalism as possible. When working with people, the accountant must act with integrity, display objectivity, and remain independent.

A company’s financial position indicates the number of resources that they have, and the claims against those precious resources at any time. Claims can also be referred as equities. So, a company can be known as a combination of economic resources and equities.

No matter what type of business you are in, every type of company has two different types of equities. They are creditor’s equity and owner’s equity. When using accounting language, the economic resources a company has at a particular time is called their assets.

On the other hand, the amount of creditor’s equity a company has is known as their liabilities. Similar to an algebraic equation, both sides of the equation has to be equal. This equation comes in handy when analyzing the financial effects of your everyday business activities.

Assets are known as the economic resources that a business has that are expected to generate money for them in the future. Some examples are real estate and any other property that a business own so that they can rent out to people. If a business is owed money than it goes into what is known as accounts receivable which are monetary items.

However, there are some assets that are not physical. Some examples are copyrights, trademarks, and patents, and they are extremely valuable to a business. Liabilities are the obligations that a business has such as paying cash, provide future services to individuals, or transferring assets to another entity.

These are the debt of a business or the money that they must owe soon. All of these are recorded in the accounts payable. Having a lot of debt is not fun and liabilities are claims that are seen by the law. The law gives a creditor the right to push the sale of a company’s assets if they don’t pay their debt on time.

Creditors have a ton of rights over owners, and they must be paid in full even before the owners receive anything. It is very possible for a debt to consume up all a company’s resources. Owner’s equity refers to the claim that owners of a business make regarding the assets they have.

It is the residual interest or the remaining assets of a company after deducting the amount of entity liabilities. The owner’s equity within a particular corporation is referred as stockholders’ equity. The stockholders’ equity has two distinct parts which are the contributed capital and retained earnings.

The amount that an individual stockholder puts into a business is known as the contributed capital. Contributed capital is usually divided into two separate parts known as “par value” and “additional paid in capital”. The retained earnings are the amount of equity that is earned by stockholders from the income generating activities of a business that are kept for future uses by a business.

Follow the Magical Accounting Rules

To make sure that financial statements are easy to understand, there is a set of rules and practices that is established, which is known as the Generally Accepted Accounting Principles (GAAP). This has been developed to provide a basic guideline for the rules of accounting because it can get confusing at times. Basically, it is a set of theories that accountants come to accept, and there are always controversies with some methods between accountants like any other fields of study.

Accounting is a discipline that is always growing and changing so it is a good idea to keep up to date with all the trends that are going on. Since the management prepares the financial statements of a company it is possible that a financial statement can be altered to give a company a particular boost. So, that is why the companies that sell their ownership to the public needs to get their financial statements audited by a Certified Public Accountant (CPA).

A CPA is licensed through the state for the same exact reason lawyers and doctors are, so they can protect the public by providing the highest quality of professional service possible. The reason why CPAs are used is because they have no connection with the company and are independent. They have zero financing ties with the company.

Some firms that employ a lot of CPAs include Deloitte & Touch, KPMG, and PricewaterhouseCoopers. An accountant with no strings attached or is independent commonly performs an audit, which is evaluating a company’s financial statements, product, accounting systems, and records. The main purpose of an audit is to make sure that the financial statements have been properly prepared according to the excepted accounting rules.

Since accounting is not a precise science it has room for interpretation according to the GAPP. An accountant can decide only when the financial statements conform to the guidelines of GAAP. In the past creditors, banks, and investors tend to favor an auditor when they are deciding to invest in a company or give loans, because of their independence.

The individualistic audit is an extremely crucial factor in the growth of financial markets internationally. Also, many organizations can directly or indirectly influence a GAAP. The Financial Accounting Standards Board (FASB) is the most critical body for the development and issuing of rules on accounting practice.

This independent body issues the Statements of Financial Accounting Standards. The American Institute of Certified Public Accountants (AICPA) is the official professional association for certified accountants. It is the largest CPA organization that exists in America and heavily influence accounting practices through its senior committees.

The Securities and Exchange Commission (SEC) is the agency of the federal government that has legal power to set and execute accounting practices for companies that sell security to the public, and it has a large impact on accounting practice. Next, the Governmental Accounting Standards Board (GASB) is critical for accounting because its main job is to issue the standards for accounting to the local and state governments in the United States. However, a lot of these organizations are focused on the rules and regulations in the United States.

There are a lot of businesses and accountants internationally so that is why the International Accounting Standards Board (IASB) was formed. It was approved by more than 25 international agencies. The United States laws that analyze the revenues for the cost of operating a business can also affect accounting practice.

It is no question that the major provider for income for the government comes from income tax. The income tax rules are heavily applied by the Internal Revenue Service (IRS).

People are not going to buy something out of your recommendation if they do not know you

Find a product or service that people want and need. Although it may not be your forte, if you provide a service and product that you have researched and learned about well, you can carry it on forward. While it is true that it is best to sell something that you have interest in, there are not many people who have the same interest as you if you decide to sell something that is not entirely popular or profitable.

Do your research well and you would see the profits come in. Also provide your subscribers with promotional material that they could use and spread around. Make friends with other opt-in list users. This is especially beneficial if it is someone who has already launched a successful opt-in list.

These are people that have the experience in this venture and experience is still the best teacher. While there are many articles available for you on the internet to use, there is nothing like getting a first-hand account from someone you trust. Experienced opt-in list users will be able to tell you what to do and what not to do because they have gone through it.

While different situations occur for different people, the general concept can still be very helpful. There are many things to avoid, and these people will be able to tell you which ones. Building a profitable opt-in list does not just happen overnight.

There are many preparations to do. Opt-in lists are built from scratch, as your list grows, you should also maintain the quality of your list. Keep it organized and manageable. A pre-paid legal plan is a scheme based on the payment in advance of a set fee to defray the cost of providing future legal services to the members enrolled in the scheme.

They vary in cost, scope of legal coverage provided, and how the legal services are provided. An individual pre-paid legal plan is readily accessible to the public. There are two types of individual plans: access and comprehensive.

An access pre-paid legal plan is the most basic plan. It is designed to give easy access to lawyer and a set of simple legal services for a low cost. Basic services furnished include unlimited toll-free phone access to your attorney for consultation and advice, letters written by the lawyer on your behalf, brief office consultation, and the drafting or review of simple legal documents.

Complex legal issues that are not covered will be subjected to an hourly or flat rate, negotiable with your provider. Comprehensive plans typically start at $300 per year and are most beneficial to middle-class families. Generally, all the benefits of an access plan are provided at no cost to the comprehensive client, plus a broader range of services like drafting complicated legal documents, negotiations with adverse parties, and legal representation in court cases such as divorce and child custody.

They also cover all the costs involved in a legal litigation. A group legal plan is typically sponsored by an organization as a fringe benefit to its members. The lawyer or law firm contracted provides free or low-cost legal coverage to all members of the sponsoring organization.

Employers, labor unions, and even universities are now increasingly offering group legal plans to enhance the value of their benefits package and reduce the cost of administrative burden. Law firms are contracted to provide participating members telephone and office consultation for their most frequently needed legal matters. These typically include preparation of wills and trusts, document preparation and review, debt and real estate matters, and family law.

Additional legal coverage can be contracted according to a fee schedule negotiable between the plan sponsor and provider.

Get instant content with PLR

With Private Label Rights (PLR) articles, you are not obligated to incorporate outbound links at the ending of your articles. No distracting advertisements means your readers can concentrate well on your articles. Hiring someone to write articles for you can be expensive, costing around $15 a piece.

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When you purchase from a trustworthy seller, you are guaranteed that you are purchasing quality. Just keep in mind that you read the terms to make certain that you are allowed to alter the content, as this is the only way that PLR articles can be used with full advantage. PLR articles are written purposely to answer specific questions as well as problems within a position on a well-searched market.

If properly marketed, they can produce steady sales. You realize that you need a good opt-in list. After reading countless articles and sought expert advice and have read many success stories of people creating a small fortune with opt-in lists, you finally decide to have one of your own.

Then it happens, you think you have known everything there is to know about opt-in lists and have followed their advice to the T and you still were not able to make a profit. In fact, you may be losing money. You may be hiring writers to help you out, or there are some expenses incurred.

Even if you have a big list, but only a very small percentage buys from you, you are still losing money. The most common mistake is that you have dived straight right in. You chose a topic where you think could be quite popular and would earn you money. This is just not the case.

Just because you wrote to people from the list does not mean they are going to buy instantly. Get your customers to trust you and your products first. Just launching your opt-in list would not make you an expert and a believable seller.

Put many articles first before you start an opt-in list. Write about the topic you know and have started and used for your site. Try to put forums first to gain knowledge about your customers about their wants and needs and target those wants and needs.

Join forums from other sites as well. Provide expert advice and recommendations. When you feel that people trust you already, you will be able to start your own opt-in list. You can build a base as well with other forum users.

You can ask them to join your list. Friends are always good customers. Put up a link to your site so that they may be able to see what your business is all about. The money will only come in when the consumers and subscribers believe and trust in you.

They want a product or service that could be a good exchange for their money.

Permit visitors to republish your articles in exchange for publishing also your resource box on their websites

This will spread your advertisement over the web at the same time increase your link’s popularity. You can also affix your byline or resource box to your articles then publish and distribute in your e-Zine. Announce that your articles can be republished if your subscribers will publish your resource box.

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Almost all PLR packages are controlled to only a certain quantity of buyers, so there is no worry that your material will show up 3 million times over on Google. Having the authority to rewrite, modify, or alter the PLR articles indicate that your article is entirely different from everyone else’s who purchases and repackages that same article or material. Before purchasing any PLR package, you must carefully read the terms and make certain that you will have authority to rewrite, alter, delete, or cut the content in whatever way you want it and affix your name unto your new article.

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The only downside of PLR articles is that these series of articles that you purchase are not unique, since these are often sold to several individuals, although the numbers of articles sold are limited. However, because you are permitted to alter the articles’ content, you have the capability to make the articles unique, and even arrange it in a very different manner and tone that will result it to be an original piece. Simply put, if you are smart with words and the talent for writing, the outcome of the article will be totally different from everyone else's and instead of competing with some 400 other individuals who have the very same PLR as yours, by simply changing the content, rearranging the chapters, adding new sections, deleting some irrelevant paragraphs, constructing a catchy title, changing the author’s name into yours, you have an original article.

For a well-researched, informative, good quality, containing several chapters, and comprising of about fifty pages, it can very well take at least fifty hours of your time and effort.

Basic modifications can be done by loading these formats using any graphics programs.

Information products such as eBooks, reports, and articles are very much easy to modify compared to other materials. The eBooks can be branded with an unlimited number of contents, affiliate programs, links, and back-end sales. The content can be divided and distributed as an e-Course through an autoresponder.

The content can be placed online and create websites from it that are chock full of content. It is easy to garner profit from articles and content. A report can be generated using a group of articles. The report should be offered to customers for free and it should be permitted to be freely distributed.

An article series can be developed to form an email campaign for autoresponder. The series can be utilized to attract customers to opt-in email lists. The articles can be used as content for the marketer’s own website.

A trick is to rewrite the separate articles to suit the keywords that can give enhancement to Google AdSense revenue. A series of books can be created and repackaged to be sold along with resell rights (RR). Private label rights (PLR) allows marketers to create a variety of unique products from an original source.

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When you buy a product with RR, you only will have the authority to sell such product to others. However, when you buy a certain product with PLR, then you not only have the authority to sell such product to others, but you also will have the alternative in selling the master resell rights (MRR) for that same product. Meaning that people who bought from you the MRR of that certain product in which you own the PLR will therefore get hold of the authority to sell such products to others.

Purchasing PLR packages is inexpensive when compared to employing the service of a ghost writer to write articles or eBooks for you. On average, PLR articles costs between $0.10 to $0.20 per piece, while a ghostwriter generally charges from $10 - $30 for one good quality article. Normally you can modify or revise the article’s content in whatever way you desire.

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Likewise, you can use each article’s first paragraph in an autoresponder follow-up series then incorporate a link directing prospects to the full article located in your website. Or put together two articles to create a special report that you can use as motivation or incentive so prospects will enroll for a newsletter. Affix your byline or resource box to all articles then publish them.

Another disadvantage

Materials that are distributed in this manner will not be as credible as the books that have a known and respected author associated with them. These kinds of scenarios cannot be easily dismissed and requires consideration. There are many ways that marketers can make money from the Internet.

One of the business opportunities that are fast gaining popularity on the Internet is private label rights (PLR) products. The main distinction between PLR and resell rights (RR) is that the latter gives resellers license to sell the product, provided that its contents stay intact. PLR gives permission to the reseller to apply modifications and changes the product as he deems fit to make it suitable to a specific market, without being held liable for it.

Materials that are usually offered under PLR are software source codes, eBooks, and graphic files. Each of the products has its advantages and disadvantages. For source codes, a reseller will have to have some knowledge so he can compile the source codes into the finished software, especially if it must be modified according to his specifications.

An average reseller will have to employ the services of an expert to do this task, and this will add substantial cost and time. The advantage is, software has a much higher value when it comes to reselling compared to reports and eBooks. In the case of PLR software products, the core technology of the product can be created and owned by another person or company, but resellers can place his brand and have the software tailor-made by utilizing layout and color schemes, logos, languages, and other options that can be configurated to make the software look like it was created by the reseller.

Software is only one among the many products that can be offered under PLR. Venturing into PLR is one of the most proliferating businesses online in the present. Lots of marketers are already making lots of profits it.

There are lots of products that marketers can purchase that can be subjected to PLR. But first, one must fully understand the business concept. Basically, PLR allows potential resellers to purchase a certain product not only to sell it, but also to do whatever it is needed to suit the needs of the target market.

The main distinction of PLR from RR is that the latter allows the marketer to sell the product, provided that its contents remain intact, whereas PLR permits the marketer to modify, change, or rearrange the composition of the product to suit the marketer’s needs. PLR is great asset for a marketer. It presents the opportunity for the marketer to own products without creating them themselves.

Perhaps the greatest benefit that can be acquired from PLR is that it enables a marketer to develop new and unique products from the original ones that he purchased. The marketer then does not have to compete with thousands of others that possess the same original product that they purchased. PLR materials can include software source codes, graphical files, and eBooks.

Each product has its own advantages and liabilities when it comes to purchasing it under PLR. A marketer must have some technical knowledge to have source codes compiled into a software product. An average marketer will have to employ the services of a skilled hand for this task, producing a substantial increase in costs and time.

The advantage, however, is that those software products have a considerably higher value than graphical files and eBooks. The same thing applies to graphical files. It may also take some technical abilities from the marketer to modify. There are instances that these files are distributed as GIF, JPG, or BMP format.

You have created an entirely new product

You could repackage this and sell it with your own resell rights (RR). People are looking for material they can use for their own promotional needs, so this market is increasingly growing in number. Using private label rights (PLR) articles are not only effective in providing truly useful content, but they are also cost- and labor-efficient, which means you can focus more of your time to more important matters, whether they are for business or otherwise.

There are a lot of ways that people can profit from the Internet. eCommerce has flourished grandly, and a lot of marketers found themselves earning money more than they ever dream of. One of the means that these marketers utilize to rake in the dollars is venturing into PLR eBooks.

Basically, PLR allows people to market somebody else's product as their own. The concept of PLR is that you obtain the rights of a certain product from the person who created it, and then you can do whatever you want with the product, apply all the modifications that you want, sell it to customers, keeping the profit all to yourself. The difference between PLR and RR is that with the latter, marketers can sell the product, but all its contents should be intact.

PLR permits the seller to modify, rearrange, alter, or enhance the acquired product and sell it. Among PLR products, one of the most profitable is the eBook. In the past, marketers purchase RR from an eBook author, and resell the text of the material as it is.

This strategy works to the advantage of the authors because their works can be sold with the content intact, and not being compromised. Many of these eBooks contain links to products that the author is marketing. The result is that the seller of the eBook will double as the author's marketing agent, because in each sale of the book, the affiliate links that it contains are exposed to each customer.

PLR has become increasingly popular among marketers. This allows the marketer to create new unique products from the material which is specially designed to suit the customers of the marketer. Usually, the eBooks that are being resold under PLR are specially commissioned and ghostwritten.

These works are usually basic texts that is geared to a specific market and are not the type that will win literary awards or climb bestseller lists. But it does not mean that these books are worthless. These books fill the need of niche markets because they are written specifically for them.

They can make a lot of profit if aimed at the correct target market. With a little ingenuity, a marketer could end up offering a book to customers that they will not find elsewhere. The marketer does not have to compete with other marketers who have the same product that he is selling.

The contents of the book can be changed and modified to suit the target market. Chapters can be rearranged. New sections can be added. An entirely new and eye-catching cover can be created. Titles can be revised. Pictures and illustrations can be included.

Even the name of the author can be changed. And after overhauling a whole book, you have already created an entirely new and unique version of the material which customers can appreciate. Of course, there are protests regarding the idea of allowing marketers to do whatever they want with written materials.

There is the possibility that the market will be flooded with books containing different titles but have basically the same content. This can bring about the loss of consumer confidence in the eBook industry.

You probably already know how much work and time it will take to write an article

On average, a single 700-word article will take about two hours to compose from scratch. If your intention is to create a website with over 50 pages, then you can see how daunting and time-consuming the task of simply writing content will be. Private label rights (PLR) articles will save you this time and effort.

All credit goes to you, you are under no obligation to credit the original author for PLR articles. As such, when you publish them on your website, no outbound links and advertisements will be there to distract your visitor. All links will be focused on your brand and your affiliates.

Hiring writers to create content for your website averages about $15 per article. If your site were to hold even just 20 articles that you need to update regularly, you would see how the bill could add up. But if you were to acquire PLR for a set of articles, you could save money because of the economics of scale.

Articles are bought at bulk and as such it is possible to get your hands on 200 articles for less than $30. You have absolute editorial freedom. If you do not like how the article is written or the information it is presenting, PLR allows you to change the material right away without needing to ask permission from the writer.

This is also especially useful for optimizing your website for search engines since you can enrich the content with keyword phrases to improve your rankings in search engine results pages (SERPs). Create a brand for yourself. Today, it is all about distinguishing yourself from the rest.

PLR articles allow you to provide content that is both relevant and updated. By doing so, you build a reputation with your target audience as an expert. And since people would much rather go with someone they trust, your chances of return visitors increase significantly.

Many of the writers who offer articles with PLR are professionals and have access to the latest information regarding your field of interest. By acquiring the rights from them, you avail yourself of their professional results without having to retain their services regularly. With one set of PLR articles and some creativity on your part, you can extend the life of the articles to the point where the content has more than paid for itself.

So, when sourcing out a supplier for PLR articles, ask for sample works to demonstrate the quality of articles you would be purchasing. You can consolidate a series of articles of a similar theme and package them as a report or listing of information. While you may think that anyone can do this, you would be surprised how little of this is done.

Many people do not have the time to read or the willingness to read several articles at different times. Providing them a simplified version of the information they want will be a welcome offer for your visitors. You can either give away the report for free, sell it as your own product, or use it as content on your website.

Use PLR content to create a series of small articles. This is especially useful when producing material for an email campaign. A series is by far, one of the more effective ways to create a following with your audience.

Give enough to allow them a feel for what you are offering and hint at giving more of the same if they will subscribe to your mailing list. In turn, your emails promote your website by inviting them to visit you on a more regular basis. It is very possible for you to take a set of PLR articles and come up with an eBook, for which you can credit yourself as the author.

Developing and manufacturing your own product is quite a tedious process

The good thing is that once you have an output, you can profit from your original product by several ways. First, you can sell the rights for business owners to resell your products without any modifications whatsoever. You can also build a website for your product and get other related websites to advertise your products for you.

Once you find that your product is not anymore at par with the current technological standards and it does not meet the consumer's needs, then you can modify it. The resulting product with the new modifications will again earn you the rights to resell that new product. The possibilities are endless once you have developed a product of your own.

The advantages of a modified product because of gaining private label rights (PLR) is the easiest way to build a business if you do not have the time to develop your own product. Gaining PLR would make it legal for you to re-use an original product content without having to worry about infringements on intellectual property rights. This principle mostly applies to written and electronic material such as eBooks, articles, even source codes.

You can use your creativity to modify an existing product and make it your own. If you put together ten articles about a common theme, modify them a bit to come up with one basic idea, you would have a resulting product which is more comprehensive than the original material. This is better as compared to just combining two articles with the same idea and packaging them individually.

You can also use an original material or text and use the PLR that you obtained to develop a website about the same topic. There are hundreds of possibilities about how you can earn money with the use of PLR. Affiliate sites and other websites offering PLR would make modifications seem effortless. This area of Internet marketing (IM) shows such potential that many online businesses are grabbing the opportunity.

All you must do is find the right material to work with and you can have an instant product to work with. Just change the graphics, modify the text, and you are good to go. The great thing about this is that you can re-package the material and present them to buyers in any way that you would like.

Additionally, you get the glory of the byline since you can put your name on the printed or electronic material because the product is yours to claim now. With a little creativity, resourcefulness, and effort, you can earn hundreds of dollars by using PLR to come up with original products that you can distribute to your target market. With this, the difficulties of conceptualizing and manufacturing an original product will be eliminated yet yield almost the same results when it comes to profit.

PLR is one of the hottest things in IM today. Everybody wants to know what they are and, more importantly, what benefits they can get out of them. In essence, PLR is a kind of license you acquire for material, which allows you to change and edit existing material and call it your own.

Without having to do a lot of work, you could be credited as the author of the material and not have to worry about any violations in copyright. Not a lot of people know about the PLR articles, much less why they should pay attention to them. Give yourself the edge and find out why you should know all you can about PLR and how you can profit from them in the most efficient and effective way possible.

With PLR, you are given permission to change another person’s work

By altering the material, you have made the work your own which then allows you to profit from the material anyway you intend to. Let us say you were able to acquire Private Label Rights (PLR) for a particular eBook. You can break up the book into separate chapters and then sell these as articles.

On the other hand, if you were able to acquire PLR for a set of articles, you could combine them and package it as a book, which you then can sell. You can change the material by adding or removing content. You can also add pictures or illustrations as well as other media like sound or video clips.

All these actions are possible but the best part about PLR is that you are not obligated to mention the original author (or pay them any royalties) for the changes you have done to his or her material. You can claim the material as yours by putting your name as the author of the material. With these changes, the ways on capitalizing on them are many.

You can come up with a whole new set of products from a single material source. You have enhanced the content with media to package it as your own work and putting it up for sale on the market. Acquiring PLR is great for creating a brand for your business.

As you may already know, one of the keys to a successful business is to distinguish yourself from the rest. With PLR, you can change the material and make it uniquely yours. If your target market likes your material, your market can perceive you as an expert in your line of business, which is something you can really capitalize on as you sell your products or services.

However, it is not only the person who acquires PLR who stands to benefit from it. It may be difficult to understand at first but selling PLR benefits even the original creator. With the increasing demand for original material to be sold with PLR, a writer can make good money from his or her work.

The incentive is that he or she can command a higher price for the work given the rights that go with the material. Furthermore, selling the rights to change the material any way the buyer wants is giving new life to the material. By giving the buyer the freedom to change the content in several creative ways, the material’s usability sand relevance is extended.

By compensating the original content creator well, allowing freedom and flexibility for the purchaser, and by giving the end user a wealth of very useful information, PLR is by far one of the best things out there in the world of online marketing. One might wonder at the difference between PLR and Product Resell Rights (PRR). With PRR, a person obtains the right to resell the product as is, without changing its form, design, or name.

On the other hand, if you have a PLR to a particular product, you will gain the right to modify or change an original product, create your own specifications, apply modifications, then claim it as your own original product. eBooks, software, articles, and other written, raw material are just some examples of products which you can obtain PLR. The idea may have been copied or bought, but you get to have the rights to resell the "new" product resulting from the one that was modified.

In a basic business course, you are taught to develop an original product which you will sell to a particular market. You have learnt that an original design and functionality will pave the way towards introducing a great invention in the market.

PLR gives you consent so that you can improve

By way of adding information on a content that you find lacking or delete irrelevant information. Some products may disappoint you if they do not measure up with your standards, however private label rights (PLR) products give you the right to adjust the article’s content when are not contented with how it was formatted and written. PLR articles are the right choice when it comes to branding yourself as well as your online business.

There is a need for you to let the world know that a business like yours exists. With PLR modified and revised products and labeling them as your work, you will impress prospects as well as establish yourself as an expert in your field, gaining the trust of online users, and you will be remembered when they will need your service or products. However, note that purchasers of PLR products are not only the ones who earn, but also the PLR product’s creator, to offer his books at a higher price knowing all the benefits it offers to the buyers.

Rewrite some articles and submit them to free article directories. Do remember that you need to revise your articles first, before submitting them, as the directories can penalize you. Enhance your list. You can offer eBooks or eCourses as free incentive for visitors to enroll in your opt-in mailing list or offer report as bonuses when they sign up.

Improve online sales. Your revised articles can be used to update online prospects about a certain subject then incorporate links to associated product pages or links to affiliate programs. Become an expert in your field.

You can rewrite and reconstruct a PLR article for use in several articles and to construct an originally created eBook. Improve website income. Use keyword-rich articles in your website to earn additional income with Google AdSense. Keep in mind that PLR content is the expression of someone’s personality and ideas.

Begin by transforming the title as well as the tone of the article. Rewrite your opening paragraph. Search your vocabulary so that you can state the same things in a different way. You can make use of Thesaurus and look for alternative words.

Go through your entire article. Add sentences and new ideas to spread out your article or split a very lengthy content into two articles. Rewriting the ending. Be certain that your article entices the readers to perform what you need them to perform, be it buying a certain product, enrolling for a newsletter, or going through your website.

Check for grammatical or spelling errors and be certain to compose a keyword rich article. PLR can enhance your online business in so many ways. When you come across a good quality information product that gives you the freedom to change its substance and then acknowledge as your own, then it will be worth to investigate the profitability of buying it.

All the above are true if you are able secure PLR. To understand why PLR is so special, you need to know about resale rights (RR) and master resale rights (MRR) first. RR is simply permission from the owner of a work to allow you to take the said material and distribute it for your own profit.

MRR takes it a step further and allow you to sell the RR to the work. The reason why it is called MRR is because it covers a large set of permissible actions to the person who acquires those rights. Buying the whole set of these rights are great but it can cost you.

But there is a way to get almost all these actions and not have to pay as much for MRR if you acquire just the right to change or alter the material, which is exactly what PLR is.

You can collect different articles from different owners

With a common thought, you can come up with a creative masterpiece. In addition, with private label rights (PLR), you can simply append some information on the said product to make it more meaningful and creative, thus, creating an impression of having a product of your own. Best of all, you can even put your name as the author of the said work.

This is the most gainful aspect of having private label rights. In this way, you do not have to acknowledge the primary author of the work. PLR is just for marking your name and your business' name. With PLR, you can easily acquire informative products that you can use as your own.

Hence, this creates an impression that you are making your own product and that you are a professional and a skilled person on the given field. In turn, you get the trust that you need to compel them to buy your product. PLR triggers creativity in a thousand and one ways.

This is because you can assemble the different elements and come up with a new and near-original work without having any difficulty of creating such product. Develop a product with PLR simply by modifying or improving a product if ever it does not fit your taste or needs. In this way, you can both cut back wasteful time by looking for products that are totally worthless or save more money by avoiding creating a whole new product.

However, even if some people contend that it is totally unethical for a person to sell the PLR for his creations, one cannot simply surmise the fact that engaging into this kind of activity is also beneficial to the seller especially if the product is already nearing the closing stages of its market life. This goes to show that people must learn how to give way to any possible changes to any product that might have already lost its income-generating potential. By allowing other people to modify or enhance the features of certain products, the advancement of such products will continue to take place.

Hence, the cycle will go on. Indeed, the basics of PLR is not just necessary for most of the Internet marketers who wish to earn more income aside from their own products but also for the whole market as well. This is because the whole system of a give and take relationship dwells in the business and that is exactly where income generates its power.

PLR is demonstrated in a license or an authorization which comes with information products, such as eBooks and articles that you can buy. These rights allow you to modify, alter, rearrange, and enhance the products’ contents to fit your requirements. You may split eBook or article chapters and then sell them not as one whole, but as a series of articles.

You can also do the reverse. When you have purchased a collection of PLR articles you can bring them all together into one well-designed special report or novel eBook. Likewise, you can add any relevant information on a certain PLR content without the need of asking the original author’s permission.

The best feature, however, when purchasing PLR information products is that, generally, after you have completely revised the article, you can display your own name as being content’s author, without the need to pay for royalties or the services of a ghostwriter. Benefits of PLR permits you create or produce up with an assortment of new articles from one original source. Because you are licensed to alter and modify the contents so to match your requirements, you then have the freedom to repackage certain information products as novel or eBook offers for several different markets.

Why all the doom and gloom?

Price is the most sticking point for most consumers. When it comes to hiring a lawyer, hourly fees of $100 up to $1000 are out of reach of most people’s budget. And then comes the trepidation of searching for a good attorney and the right service.

There is a lot of uncertainty and confusion as what a lawyer will do, and how to tell the good from the bad. A legal plan may solve these problems and change the way you think of legal services. Thanks to this arrangement, you can now talk to a lawyer whenever you have a problem, without fear this will leave you out of pocket.

In fact, you do not even need to be embroiled in a legal problem to get legal advice. Just pick up the phone, call your attorney, and get the necessary legal advice susceptible of resolving any potential problems. With professional legal advice and follow-up, you can prevent ninety percent of your legal questions becoming legal problems.

Basic services such as the drafting of your will, review of sample health contracts, and writing letters on your behalf are handled at no cost to you. If you want further coverage to include family problems, such as a divorce or custody of children, and any legal representation in court, then you simply pay a premium and get more inclusive coverage. Even if your plan does not cover complex legal matters, it can still save you money on those sky-high attorney fees.

Discounts of up to 20% are offered on hourly and flat rates. Ultimately, it is not all down to how much you can save. Having an attorney readily available always gives you peace of mind, in the knowledge that there is someone you can use on retainer for advice and help on anything of legal nature.

Since the advent of the Internet, business had been good, if not better than before. This is because the Internet provides more viable means of disseminating information about the products and the business all at the same time. Hence, most businesses know that the proliferation of the online business will boost the income-generating potential of the business.

However, most online entrepreneurs contend that for an online business to generate good income on the Internet, the business must have its own product. This is because everything is a sale, even the thoughts that you have in your mind could count as a product for sale when presented on the Internet for other people's use. But contrary to most popular beliefs, having your own product does not limit you to the many possibilities of earning more by using a "license" that is attached with an "information product" that you may acquire online.

These are known as private label rights (PLR). PLR are just one of the three "basic rights" that are embodied in the concept of resale rights marketing. Among the three, PLR is considered as the most moneymaking and rewarding.

PLR is represented in a certificate or authorization that is attached with an information product. The basics of PLR is to permit people to transform, reorganize, change, or improve the elements of the said merchandise to go well with the buyer's personal desires and yearnings. For example, if you have a PLR, you can easily segregate the contents of an eBook, and persuade somebody to buy the contents as sequence of pieces of writing.

One of the best things about PLR is that you can do the same thing inversely. For instance, if you were able to buy a set of information products like a collection of articles embodied with PLR, you can easily bring them together without the risk of some law-related predicaments.

Your Point of Contact

Your lawyer is your point of contact for any phone advice or office consultation. He is the one who furnishes other legal services specified in your written agreement with your provider. He drafts your will, reviews simple contracts for you, writes letters on your behalf, and makes phone calls to adverse third parties.

If you are unsatisfied with the quality of work, you are getting from your current attorney in the network then you have the choice of choosing alternate attorneys. You can also make a complaint to your provider’s in-house charge of complaints. If you benefit from legal services under a group plan scheme, then there are a few parties who are involved in this scheme.

First the contracted firm, just as is the case with an individual plan, is the one which provides all the legal help through its network of attorneys. There are also two parties involved in the deal: a plan administrator and a plan sponsor. A plan sponsor is the organization you are member of, which sponsors your legal plan.

Your sponsor can either choose to provide the legal services as a fringe-benefit, as is the case with most employers, pre-charge for the service. Universities usually charge for any legal service as part of tuition fees or charge low-costs, as do trade unions under a group-bargaining scheme. Your plan administrator is the person appointed by your sponsor to arrange for the panel of lawyers from the contracted firm to provide services, collects all the fees paid into a pre-paid plan, publicizes the plan, and handles enrolment and marketing.

The administrator may be an employee of the sponsor, an insurance company, or an outside firm. Authorities that regulate pre-paid plans provide you with an outline of how pre-paid legal services are managed and an outlet in case there are any complaints. Individual pre-paid legal plans are generally regulated by your state department of consumer affairs.

If you are an employee participating in a group plan funded by your employer, then the legal services are covered and regulated under the deferral Employee Retirement Income Security Act (ERISA). Pre-paid legal service providers are required to provide either a written agreement of the services provided in their plans, or at least a written communication concerning the services covered, together with the fees to be charged for services not covered in the written agreement of membership. However, most people gloss over terms and conditions and just sign the agreement assuming they are covered for most legal services.

This usually gives rise to frequent complaints about the service, fee disputes, and complaints about attorneys. Generally, if you have any complaint with your service, you should first address any such complaint with your service provider. Contact them to get information regarding their in-house complaint process and settlement of disputes.

If you are unsatisfied, then it helps to know who regulates your kind of legal insurance. Your state’s Department of consumer affairs licenses and regulates all pre-paid legal plans. Prepaid legal service companies are required to register with the department prior to commencing business and appoint a sales representative.

Further regulation can be provided by your local bar association. We are likely to need legal help at least once a year, yet most of us do not actively seek legal help. Close to three quarters of American adults experience some event during a twelve-month period that may require the services of a lawyer.

Over half of those who needed an attorney chose not to hire one, and close to 80% of those yet to experience legal problems gave strong indications they might go down the same route.

Settle disputes or complaints

Legal advice for small businesses does not have to be expensive. With pre-paid legal plans, a wide array of legal services designed specifically to cater for the needs of small businesses is available for a set yearly fee ranging from $125 to $300. Although coverage differs across the board, most pre-paid plans offer unlimited telephone consultation with a lawyer, a valuable service that is enough to solve many small-business matters.

This encourages the process whereby you identify legal problems that affect your business, contact your lawyer, and get advice on taking steps to minimize them. Basic plans provide coverage for simple contracts and the drafting of simple legal documents, like a power of attorney or a bill of sale. More comprehensive plans will deal with more elaborate matters like equipment lease and accounts-receivable collection work.

If you are a member of a local chamber of commerce, trade, or professional group then you can get a plan at a reduced group rate. Otherwise, buy directly from a commercial vendor. Pre-paid legal plans come in a variety of types depending on the scope of legal coverage they provide.

The most basic pre-paid plan is designed to make the simple legal services readily available to the public at low cost. These plans typically cost between $10 and $30 per month, billed in advance. You get unrestricted toll-free number telephone access to a lawyer for legal advice and consultation.

You can also make brief office consultations to talk to your lawyer about any legal problems you may be encountering. Your lawyer can also write to letters or make phone calls on your behalf. This can help resolve many problems before they escalate further.

Other services provided are not overly time-consuming such as the drafting of your will to distribute your property after your death, review of your trust, and any other simple legal document. If you require any other service beyond the scope of a basic plan, then you can either pay discounts on regular lawyer fees or pay a premium to upgrade to a more comprehensive plan. Over 100 million Americans are signed up for pre-paid legal services.

Also called legal insurance, these plans are like those provided by Health Maintenance Organizations (HMOs) and cover the legal needs of the member, spouse, and any dependent children. In a prepaid legal service plan, the customer pays a fixed monthly subscription fee of up to $25 for the services of pre-selected lawyers. The most basic plans provide advice and consultation by telephone.

Plan members receive a few hours of free office consultation with their assigned attorney. They may also include review and advice on simple legal documents, preparation, drafting, or an update of a simple will. Phone calls and letters can be written on behalf of members, a service helpful for credit problems and consumer protection.

More comprehensive plans cover clients’ personal legal needs ranging from services that require more time and effort on the part of your attorney, such as contracts, wills, and deeds, to legal representation in negotiations and courts cases related to family matters, bankruptcy, and real estate issues. When you subscribe to a pre-paid legal service, you are likely to deal with an attorney and several other individuals and organizations who are involved in one way or another with the service. It is important to understand the role of each participating party in a legal service plan, particularly when you are unhappy with the service or when fee disputes or any other litigation with your provider arises.

You get to choose your attorney from a pool of attorneys in the network.