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Infographic Friday:  A Few Benchmarks behind Online Legal Services

Infographic Friday  A Few Benchmarks behind Online Legal Services-header

LegalZoom got a thumbs-up from the top court in South Carolina this week and the story is making the rounds across the trades and the blawgosphere.  For example 3 Geeks and Blog reported as the news broke and Jordan Furlong has weighed in with commentary.

It’s interesting from a business of law perspective because a few weeks ago we posted a SlideShare presentation that speaks, perhaps, to the market LegalZoom serves.  The presentation on the latent market for legal services states this industry is worth upwards of $45 billion.

So this week, when we stumbled upon this infographic The True Cost of an Attorney, the data on what small businesses spend on legal services – the sort of services these online legal service providers are targeting – some of the numbers jumped off the page at us.

According to the infographic, here’s what small businesses spend on legal services:

  • Copyright registration: $350
  • Website terms of use: $450
  • Patent search: $750
  • Trademark application: $1,075
  • Software developer agreement:  $1,150
  • Software licensing agreement: $1,550
  • Software startup package:  $1,900
  • Mechanical patent application: $3,500
  • Software patent application: $6,650

Even though some of the data is from 2012, the data points look well sourced and the market has been relatively flat for the last few years. It is but one benchmark among many available today, for example:

Finally, for all the back and forth in the headlines on legal disruption, LegalZoom sure seems strikingly disruptive.  Add to it, this infographic appears to have been originally produced by UpCounsel, an online marketplace for outsourcing legal projects at a lower cost, and we begin to see how the pressures on this side of the market are adding up.

Here’s the complete infographic:

Infographic Friday  A Few Benchmarks behind Online Legal Services

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About Frank Strong

Frank Strong
Frank Strong is the communications director for the LexisNexis software division located on NC State’s Centennial Campus in Raleigh. In this capacity, he leads communications efforts in support of software products for law practice and law department management and also litigation tools – across large law, small law and corporate counsel segments. With more than 15 years of experience in the high-tech sector, Strong previously served as director of public relations for Vocus, which developed marketing, PR and media monitoring software. He has held multiple roles both in-house with corporations, ranging from startups to global organizations, and has also endured the rigors of billable hours, having completed gigs at PR firms including the top 10 global firm Hill & Knowlton. A veteran of two year-long deployments, Strong has concurrently served in uniform in reserve components of the military for more than 20 years, initially as an enlisted Marine and later as an infantry officer in the Army National Guard. Strong holds a BA in Film and TV production from Worcester State University, an M.A. in Public Communication from American University, and an M.B.A. from Marymount University. He is a PADI-certified Master Scuba Diver and holds a USPA "B" skydiving license.