Today we will provide information and reviews about Future of Law Friday: API Your Law Practice for Future Growth and Collaboration
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A week or two ago, I observed that many attorneys prefer to use a combination of platforms for storage, practice management, client portals, and other law office functions rather than relying on one single solution. The emergence of APIs, or programming interfaces that enable different systems to seamlessly communicate with each other, has driven the integration process.
Although relying on multiple platforms can be costly, users also enjoy significant benefits. Significantly, instead of settling for a generic platform that performs a set of functions as a service, users can choose their favorite tools to create an ideal system customized to their practice and preferences. Combine yourself. Additionally, while this type of integrated system costs more than a single, integrated solution, it costs far less than building a practice system from scratch. Consolidation is also a win for new companies and innovation because it creates a market for spectacular discrete products (or at least a viable product in Lean StartUp terms), thereby lowering barriers to entry.
Can the API concept be translated into law? totally. Not only that, but it’s an idea that solopreneurs and startups should seriously consider. For example, let’s say you’re an ERISA practitioner looking to expand your practice. In addition to maintaining a unique presence online and in your industry, you can also offer your services based on an “API” – as a value-add for law firms involved in mergers or general employment issues, or HR firms that lack one. Consulting on partner firm staff saves a bundle by having access to an ERISA expert without paying a full-time salary, plus you don’t have to worry about pursuing other cases because your work is limited to ERISA. Meanwhile, your company generates revenue from accessing a steady stream of business from larger sources rather than constantly marketing to individual customers.
But the API concept is not limited to high-level custom services either. A bankruptcy attorney and an estate planning attorney can work with family law firms if bankruptcy or revised estate planning is being considered in the context of a divorce. In addition, firms can “offer API versions of their services – a smaller, virtual version so that the client is not saddled with the cost of three lawyers (even if additional services are provided).
So far, none of this is new—in fact, the arrangement is similar in some ways to consulting agreements or project group agreements. But, I suggest something else. Just as APIs have helped automate integration between different platforms, lawyers looking to collaborate similarly with other firms need to package their services in a way that makes integration easy. A law firm’s API package may include:
- List of services offered and pricing, including miniaturized virtual offers (license forms and guides);
- Ethical, standardized engagement letters for implementing arrangements and
- Online portal or project management tools to communicate and manage the relationship once on site.
In particular, solopreneurs and startups need to proactively start identifying API opportunities or face possible extinction by massive one-stop-shop providers. In this sense, APIs are truly giant killers. A potential savior for us Davids.
