The first Heroes for Hire concept was created by Power Man who was looking for a way allow him to be a super-hero while still paying his bills. Eventually he joined forces with Iron Fist. They adventured together for many years until Iron Fist was killed and Luke was accused of his murder. It would be revealed years later, that this Iron Fist was really a doppelganger in plot by Master Khan to destroy both heroes.
The Heroes for Hire were created by Ed Hannigan and Keith Pollard in Power Man and Iron Fist.
In the wake of the defeat and perceived the Avengers and Fantastic Four by Onslaught, Daniel Rand (Iron Fist) and Jim Hammond decided that the world needed heroes to believe in. The second team had a very flexible roster.
During the events of Civil War, Misty Knight and Colleen Wing sign up to act as hero hunters for the SHRA. They are allowed to recruit the team members they want, even including former villains like Humbug and Orka. The current team line up includes Colleen Wing, Misty Knight, Shang Chi, Orka, Humbug, Tarantula (Maria Vasquez), Black Cat and Paladin.
Major Story Arcs
Banded together during Shadowland: Misty Knight, Paladin, Shroud and Silver Sable formed the basis of what would come to be the new Heroes for Hire. The team's only constant members are Misty Knight and Paladin with the roster alternating depending on who is available. However, Moon Knight, Elektra, Shroud, Silver Sable and Black Cat have all proven to be mainstays to the new team since inception.
Outside of the traditional line-up, the team has also contracted former Avengers such as the Black Panther, Falcon, Black Widow and Stingray and darker supernatural heroes and vigilantes such as Ghost Rider, Daimon Hellstrom and Satana.
The team's function - to help those in need... when they can afford it.
Throughout the team's history, Misty Knight went through stressful developments from being manipulated by both the Puppet Master and Purple Man and suffering a "phantom pregnancy". The stress put upon her was reflected in her attempts to contract some questionable "heroes" - most notably an attempt to recruit the Punisher for Heroes for Hire.
Not long after the Spider-Island epidemic, Misty Knight and Paladin went on separate ways as Misty began filling the roster for a new Heroes for Hire team with mostly super-villains such as Tiger Shark, Bombshell, Nightshade and Crossfire in a bid to destroy Purple Man's growing criminal empire. When Paladin showed concern for Misty, she shot him in cold blood and not long after Misty suffered for her mistake when most of her new "Heroes for Hire" defected to Purple Man's gang and those who didn't were shot and left for dead.
In Other Media
A new Heroes For Hire line-up appears in Iron Fist's ending in Ultimate Marvel vs. Capcom 3. Beyond mainstays such as Misty Knight, Colleen Wing and Luke Cage, the Capcom video game characters Ryu, Chun-Li and Batsu Ichimonji were included as well.