A method and apparatus for managing protocol information used in exchanging communications is provided. One or more protocol profiles are stored. Each of the protocol profiles is associated with a protocol. One or more transaction profiles are stored. Each of the transaction profiles identifies a combination of protocol profiles. One or more trading partner transaction profiles are stored. Each of the trading partner transaction profiles identifies a configuration of protocols for exchanging communications with a receiving party. After storing the profiles, a particular parameter value of a particular protocol profile is updated to identify an updated value without updating any of the transaction profiles. Updating the particular parameter value causes the updated value to be inherited by at least one of the transaction profiles. An application may obtain the updated value by accessing a profile that references the particular protocol profile.