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Tomorrow  Feit Consulting  will be  releasing  a study “Patent Research: The Importance of Precision a Comparison of Docket Navigator and Lex Machina Data Searches” examining the comparative performance of Docket Navigator and Lex Machina  two of the leading patent research and analytics platforms. The study was paid for by Docket Navigator. According to Feit, they invited Lex Machina to participate in the study.  Lex Machina’s response is included below. Feit identified four expert patent researchers at ALM 100 firms who had access to both platforms. According to the report – the main question Docket Navigator wanted to answer was: Does AI outperform human search, or the reverse?  Docket Navigator  is described as “a human-search driven patent litigation platform.” The purpose of the study was to identify and compare the key differences in the quality and quantity of research results of Docket Navigator
Continue Reading Feit Report: Docket Navigator Outperforms Lex Machina in Patent Research Challenge

Two months ago, Lex Machina  launched an analytics module for the New York County Supreme Court, one of  the most important commercial litigation jurisdictions in the United States.

Today Lex Machina is announcing the completion of coverage for all five New York City counties (contiguous with the 5 New York City Boroughs).

  • New York County Supreme Court (Manhattan) released on September 29th
  • Kings County Supreme Court (Brooklyn) released on October 27th
  • Queens County Supreme Court (Queens) released on November 24th
  • Richmond County Supreme Court (Staten Island) released on December 8th
  • Bronx Supreme Court (the Bronx) released on December 8th

All of the New York City county courts  handle civil litigation involving contracts, torts, tax, and commercial matters. Legal Analytics are
Continue Reading Lex Machina Expands Analytics to Cover All New York City Counties

This week LexisNexis announced the launch of  Survey of Commercial Lease Terms  in Practical Guidance — a unique analytics resource for real estate practitioners. In October I covered the launch of Practical Guidance Market Standards for M & A.

Daniel Lewis, VP and GM of Practical Guidance and Analytic at LexisNexis provided me with a preview of the Survey of Commercial Lease  Terms. Legal analytics products are generally built on top of publicly available datasets. Lewis described the new product which
includes data from private deals as built on a “give to get” model. Large, medium and small law firms have contributed data about the commercial leases they have worked on in order to get access to the data set and reports. Unlike other products the data is anonymized.
Continue Reading LexisNexis Releases Commercial Lease Analytics Product and COVID-19 Real Estate Impact Report

Today Intelligize,  a LexisNexis company, is announcing the launch of Company Insights – a new feature which provides seamless access to detailed financial data provided by premium financial data provider Factset. Until now, Intelligize focused on text based searching and with Company Insights they are pivoting to include quantitative financial research analytics.

According to the press release: ”Company Insights indexes and synthesizes a wide range of corporate information, including regulatory disclosures, earnings-call transcripts, stock-price and ownership data, corporate governance documents, analyst/investor presentations, and releases, in addition to thousands of LexisNexis® news sources.”

The  Company Insights data is presented as a navigable dashboard of analytics which can be used for competitive intelligence or M&A deal due diligence in law firms.

Phil Brown, Managing Director summed up the benefit to law firms: “Intelligize’s Company Insights revolutionizes the
Continue Reading Intelligize Launches “Company Insights” Analytics from Factset

Today Lex Machina is launching an analytics module for one of one of the most important commercial litigation jurisdictions in the United States, the New York County Supreme Court. The new module will include 119,000 civil court cases filed after January 1, 2016. Subscribers will have access to over 600,00 full text pleadings and orders which have been downloaded into the module. Coverage includes both class action cases and “pre-RJI cases”  (cases that have not yet filed a request for judicial intervention). The  analytics data was extracted from both dockets and court filings.  New York County Supreme Court  data includes civil litigation involving torts, tax and commercial matters. New York is the 10th state court added to the Lex Machina suite of state coverage. Lex Machina  will release modules for the other four counties within the boundaries of New York City in the coming months.

Continue Reading Lex Machina Launches New York State Analytics Module –Webinar Today

Last month, Feit Consulting released a new report on the state of the market for major legal vendors Thomson Reuters. LexisNexis, Bloomberg Law, and Wolters Kluwer. Over the past 30 years, what was once known as the Computer Assisted Legal Research (CALR) market has been dramatically transformed by the integration of workflow, drafting, brief analysis, and analytics tools into knowledge-enabled insight platforms.

My interview with Michael Feit, founder of Feit Consulting, reveals how major legal information vendors have failed to adjust their pricing models to reflect the collapse of cost recovery following the Great Recession of 2008, when law firms faced a buyers’ market and CALR costs became almost 100% overhead.

According to Feit, the response of the two dominant players, Lexis and Westlaw, was to protect their revenue by eliminating “all usage-based pricing and published retail rates. From that point on, pricing from Lexis and Westlaw went rogue.”

As law librarians and knowledge managers prepare their firms’ post-pandemic budgets, Feit has shared insights and
Continue Reading Managing The Post-COVID Knowledge Resources Budget In An Era Of ‘Rogue’ Pricing: Insights From Michael Feit of Feit Consulting

Today Lexis Nexis is releasing a new M&A analytics tool called Market Standards which helps lawyers identify, compare and analyze publicly files transactions – to optimize the terms of M&A deals.

Market Standards enables a lawyer to analyze, 150+ deal points, in 33,000 deals spanning 10 years. New deals are analyzed and added within 48…

Today Feit Consulting is releasing a new report on the state of market for major legal  vendors: Thomson Reuters. LexisNexis, Bloomberg Law and Wolters Kluwer. I hesitate to even refer to the market as the legal research market because that completely ignores the dramatic integration of workflow, drafting, brief analysis and analytics into the 21st century progeny of the foundational case law research systems.The 2020 Legal Information Vendor Market Survey  was conducted between June and August 2020 and is targeted at law firms with 50+ attorneys. There were 104 responses: 26%(<100 attorneys), 56% (100-499 attorneys) and 20% >500 attorneys.The  The report provides context by comparing results to the 2018 survey results. These results will be include in an upcoming book Optimizing Legal Information Pricing which will be published this fall.

The one criticism I have of the report is that the report collects data on the importance of various products by vendor. Westlaw Edge is listed but not the prior Westlaw platform – which many respondents appear to still have. Since the time when the study was conducted Lexis has announced it’s new platform Lexis+ which will surely be a platform analysed in the next version of the study.Although Westlaw enjoys the greatest market share they are declining in customer satisfaction. Bloomberg Law and Wolters Kluwer are stand outs in improving customer satisfaction with 35% and 15%  improvements respectively.
 This is a must read for librarians, knowledge managers and C-Suite executives in law firms. Under the chart there is a link where you can click through and see customer comments.The report examines the following issues:

Continue Reading Read It and Weep: Feit Report – Which Major Legal Research Vendor is Plummeting in the Market?

Today Lexis is announcing Lexis is launching a significant new platform called Lexis + . I had a call with Jeff Pfeifer,   chief product officer at LexisNexis and David Ganote senior director of product strategy at Lexis Nexis. Lexis+  is being positioned as a premium solution which has been in development over the last 18 months.  Pfeifer described the release as improving the user experience and delivering insights though integration across all elements of the platform. There are a total of 11 new features which will only be available in Lexis+:

  1. Updated, Modern User Interface visual styling including a new Experience Dock to navigate to integrated elements of the product​
  2. Practical Guidance content fully integrated in “Search All​” experience of Legal Research
  3. Lexis Practice Advisor application also fully integrated in Lexis+ and all subscribers will have access to at least one module of practical guidance content
  4. Brief Analysis
  5. Expanded Search Term Maps, now covering 35 Content Types
  6. ​Enhanced Ravel View, including new ‘anchor’ capabilities to better navigate the visual map
  7. Shepard’s At Risk
  8. Code Compare
  9. Lexis Answers, fully redesigned in Lexis+
  10. Missing & Must Include​
  11. Search Tree

One of the most fascinating aspects of the new platform is rebuild of the Lexis Answers feature. According to Pfeifer the newest version of Lexis Answers was built at Lexis Labs where the team worked with a machine learning technology from Google  referred to as BERT (Bidirectional Encoder Representations from Transformers). BERT was smart but not smart enough to master the complexities of legal concepts and the idiosyncrasies of legal writing and syntax. According to Pfeifer “Lexis sent BERT to law school.” Lexis was able to train BERT using the Lexis taxonomy and headnotes which had been developed at Lexis decades ago. Yet another example of human machine collaboration. 

The Insight Wave. The signature visual identity is called the “insight wave” a net-like swath of color which arcs and turns across the screen. According to Pfeifer,  the  new image represents the flow and inter-connected-ness of information. This is appropriate since the new platform offers a  tighter integration of research, analytics and practical guidance tools.

Voluntary upgrade. I’m going to cut to the chase for my librarian and knowledge management colleagues. Lexis Advance is not being phased out. Subscribers can continue to purchase Lexis Advance or choose to upgrade to Lexis+.

The Dashboard. The main Lexis dashboard includes an “experience dock” on the left side of the screen which allows users to select between legal research, practical guidance or brief analysis. 

 “What would you like to research today?”  hovers over the prominent search bar. The single search feature will search across all Lexis content. Users can enter queries using natural language or Boolean.

Lexis Answers in Lexis+ was developed from the ground up.  Today, it answers from questions from caselaw but the
Continue Reading Lexis Rides the “Insight Wave:” Launches  Lexis+ with New Look, Brief Analyzer, AI Search, Codes Compare and Loads of New Features