Today Microsoft and Thomson Reuters are announcing a unique partnership for the integration of Thomson Reuters content including generative AI capabilities into the Microsoft 365 Copilot product. According to the Press Release:
Working with Microsoft, Thomson Reuters has developed a contract drafting solution, powered by its legal products and content, and Copilot for Word. Delivering
Today LexisNexis® CounselLink released its 2022 Annual Trends Report. The unstable economy and a tighter legal market have not caused law firms to pull back on billing rates. To the contrary law firm partner billing rates rose faster last year than they have in a decade.
The average partner rate increased by 4.5% (compared to 3.4%
Today vLex and Fastcase, two of the fastest-growing legal technology companies, announced that they are merging to form the world’s largest digital law library. The combined company will also have the world’s largest law firm subscriber base and resources containing more than one billion legal documents from more than 100 countries. Oakley Capital and Bain Capital Credit are investing in the combined business to expand its global reach and accelerate the Fastcase/vLex legal artificial intelligence (AI) lab, which develops AI tools that streamline research, tracking, writing, and filing documents for the legal industry.
Wolters Kluwer Legal & Regulatory U.S. One week after the collapse of Silicon Valley Bank, Wolters Kluwer posted a free publicly available resource Due Diligence Checklist .Since March 17th they have added five addition resources to a suite of tools referred to as the Bank Failures Toolkit. The resources are developed for inhouse counsel
Today LexisNexis will be releasing a Generative AI survey at LegalWeek in New York. The survey which was conducted in March 2023 is based on responses from +4,100 US lawyers, law students and consumers.
“We’ve been delivering leading legal AI and analytics tools for some time, providing lawyers with data driven insights that make it
Alternative legal services providers (ALSPs) now make up a $20.6 billion segment of the legal market and growth is accelerating dramatically, according to the The Alternative Legal Services Providers 2023 Report is being released today. The report is issued biennially by the Thomson Reuters Institute; the Center on Ethics and the Legal Profession at Georgetown Law; and the Saïd Business School, University of Oxford.Continue Reading Thomson Reuters Report: Alternative Legal Services Providers (ALSP) at $20 Billion Market Share and Growing
Last week I wrote about the current market landscape for news aggregators. This week I’m providing you with a checklist of features and negotiation issues.
Aggregation platforms are so varied and law firm priorities are so unique I recommend a formal RFP process. Here is a checklist of features and issues to consider when evaluating
Legal Tech Hub has taken a big leap forward with the launch of a premium subscriptions service LTH Premium. LTH provides insights for professionals across the legal spectrum (Innovation, KM/Research, Legal Ops, IT) who are tasked with monitoring the legal tech market or identifying the right resource for a specific workflow need. LTH provides “educational resources, objective reports and insights about legal technology, and tools to support the selection, evaluation, procurement, and implementation of legal technology. “
LHT offers quick access to resources such as checklists which can help legal and business professionals assess new tech solutions across the procurement lifecycle– from assessment through adoption.
LTH Premium is built on the original Legal Tech Hub taxonomy and product profiles are enhanced practical guides commissioned from industry experts,Continue Reading Legal Tech Hub Launches LTH Premium – Enhanced Procurement Expertise
The ARK Law Libraries Conference is back in New York and Live for the first time in three years. I will be moderating a panel discussion: Navigating Vendor Relationships: What will Technology Customer Support Look Like in Ten Years? Panel includes, Krista Ford, Steptoe & Johnson, PLLC; Jill Strand, Fish & Richardson and Monica Deal