2023 is proving to be a year of economic uncertainty industrywide, and the legal field is no exception. With firms experiencing slowing demand, rising expenses, and falling productivity, industry leaders are turning to new technology to give themselves a competitive edge. <\/p>\n\n\n\n
Following our previous Twitter Chats on Open PACER Data<\/a>, Data Driven Business Development<\/a>, Litigation Intelligence<\/a>, Knowledge <\/a>Management<\/a>, and Improving Access to the Law<\/a>, UniCourt\u2019s next Twitter Chat will focus on how law firms can pursue growth amidst turbulent market conditions. <\/p>\n\n\n\n Economic uncertainty abounds in 2023. According to the US Congressional Budget Office<\/a>, we can expect stagnation, rising unemployment, and high interest rates. Real GDP is expected to grow by just 0.1%.<\/p>\n\n\n\n These challenging market conditions are impacting every industry across the country, and the legal field is no exception. New layoffs are being announced every day. <\/p>\n\n\n\n Kirkland & Ellis, the world’s highest-grossing law firm, cut an unknown number of associates in various offices across the United States at the beginning of April. Cooley laid off 150 U.S. based lawyers and business personnel. Gunderson Dettmer just announced a 10% reduction in workforce. <\/p>\n\n\n\n These are not isolated incidents, Goodwin Procter, Strooke & Strooke & Lavan, Davis Wright Tremaine, and Shearman & Sterling have all cut jobs this year. <\/p>\n\n\n\n Cutting costs via a reduction in headcount appears to be the new trend. <\/p>\n\n\n\n Reducing headcount is not the only way to cut costs and increase profitability. <\/p>\n\n\n\n Leading firms are outpacing macro challenges by reshaping their processes and leveraging technologies, such as APIs, to automate tasks, eliminate unnecessary steps, increase productivity, and decrease resource drain. <\/p>\n\n\n\n APIs, or Application Programming Interfaces, enable law firms to weave together external litigation data with internal data on clients and matters, while also helping them avoid manual data entry and improve accuracy.<\/p>\n\n\n\n There are a large variety of use cases for APIs in the legal space \u2014 increasing client acquisition, expanding share of wallet opportunities, informing litigation strategy, and automating docket management, to name a few. <\/p>\n\n\n\n Not all APIs are made equal. Some APIs are more difficult to integrate, others require a lengthy time-to-production window, and some API vendors don\u2019t offer adequate IT support. <\/p>\n\n\n\n They don\u2019t all provide high quality data either. Data offered by some API vendors may be outdated, badly organized, or incomplete. Any strategic decisioning that\u2019s based on such data will likely lead to unintended, even negative, results.\u00a0<\/p>\n\n\n\n Law firms must determine which API vendors offer an easy-to-integrate, comprehensive solution that delivers high quality data in real-time. <\/p>\n\n\n\n The good news is that we\u2019ve made it easy for firms to distinguish the gold from the pyrite.<\/p>\n\n\n\n The UniCourt Enterprise API<\/a> is the gold standard \u2014 it is LegalTech\u2019s only API-first suite that is easy to integrate, delivers real-time updates, and automates the discovery and delivery of structured state and federal court data. <\/p>\n\n\n\n To learn more about pursuing growth with legal data and APIs, join UniCourt\u2019s<\/strong> Twitter Chat on April 12th from 12-1 pm EST<\/strong> and engage in the conversation with the hashtag #UniCourtChats<\/a>.<\/p>\n\n\n\n Here\u2019s a preview of some of the questions and subjects we\u2019ll touch on:<\/p>\n\n\n\n We want to hear from you! If there are any questions you want us to ask or topics you think we need to cover in our Twitter Chat on Growing Your Law Firm Amid Uncertainty, please send them to our Contact Us<\/a> page or DM us at @UniCourtInc<\/a>.<\/p>\n\n\n\n Make sure to follow UniCourt on Facebook<\/a>, Twitter<\/a>, and LinkedIn<\/a> for more updates!<\/p>\n","protected":false},"excerpt":{"rendered":" UniCourt is hosting a Twitter Chat to discuss how law firms can leverage APIs and legal data to pursue growth amidst turbulent market conditions.<\/p>\n","protected":false},"author":4,"featured_media":4658,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[79,57,49],"tags":[],"yoast_head":"\nChoppy Waters in the Legal Industry<\/h2>\n\n\n\n
Choppy Waters: A Good Environment for Technology & APIs<\/h2>\n\n\n\n
All That Glitters Isn\u2019t Gold<\/h2>\n\n\n\n
Join UniCourt\u2019s Twitter Chat<\/h2>\n\n\n\n