Respond to the  2020-21 What’s Hot and What’s Not Survey here. Although the world was shut down by the pandemic, our friends in legal tech continued their pursuit of innovation and market share.  Most of us had a sense of whiplash and disbelief when the world came to a virtual halt in March 2020. Law librarians who had built digital libraries over the years offered their attorneys a fairly seamless transition to their work from home desktop. Within weeks most legal publishers had developed a special COVID offering. These ranged from free alerts, to primary sources and workflow toolkits. Despite all of these efforts law librarians and knowledge managers faced a gap in COVID coverage. Almost overnight a “gray literature” emerged which major legal publishers were not Continue Reading What’s Hot and What’s Not? Welcome to the Dewey B Strategic 2020-2021 Hits and Misses Survey

HBR Consulting  just released the 2020 Benchmarking + Legal Information Services Survey (BLISS). The innovative and interactive delivery format is at least as interesting as the content. The survey focused on the core metrics such as staffing, budgets, and resources but also covered hot topics such as innovation and COVID-19 impact. The survey was undertaken during June and July 2020, three months after most law firms were two months into mandatory work from home. That enabled the  survey designers to capture some insights into how law firms were adapting legal research and knowledge services in response to the pandemic.

I asked Colleen Cable, director at HBR Consulting, to provide some insight into HBR’s goal in creating the survey. According to Cable “HBR recognized that there was a need for law firm library benchmarking data that could be utilized to support decision-making within the firm. This type of benchmarking, available by Am Law segment, is not offered anywhere else in the market, so HBR stepped in and BLISS was born.” One of the things I noticed immediately is that this report captured attorney staff ratios. This has been an elusive “holy grail” of library benchmarks that I have been begging for over the many years I have Continue Reading HBR Releases Interactive Library Benchmarking Survey with COVID Insights

Today Wolters Kluwer Legal & Regulatory U.S. is announcing a unique collaboration with Granville Knowledge Management (Granville KM) to integrate Merger Thresholds Monitor with Kluwer Competition Law. The platform offers a unique resource for antitrust and competition lawyers needing access to worldwide merger control thresholds.

This is Wolters Kluwer’s latest enhancement to Kluwer Competition Law, the leading resource for EU, national and international competition law. The partnership with Granville KM,  provides a seamless integration of Granville KM content into the Wolters Kluwer  platform.

According to Martin English, Sales & Marketing Director at Wolters Kluwer Legal & Regulatory US, International Group US companies, especially technologies companies are receiving more anti-trust scrutiny around the world and practitioners need timely insights from Continue Reading Wolters Kluwer Launches Merger Thresholds Monitor in Partnership with Granville KM

The American Association of Law Libraries is preparing to publish their second State of the Profession Survey. The AALL State of the Profession Report “provides an overview of the law library and legal information landscape.” The goal of the survey is to examine the contributions of legal information professionals across, academic, private firm and governmental organizations. The survey will examine the both challenges and opportunities facing librarians and knowledge managers. The final report will be designed for benchmarking, advocacy, organizational planning and personal development of members. The first survey was published in 2019.

The survey for second edition of the AALL State of the Profession Survey.  was sent to all AALL members working in law libraries and equivalent settings. in mid-January. The new survey will address issues in the current legal landscape including, COVID-19,  technology, demographics, budgets, user services, and more. Responses are due back to AALL February 12, 2021, at 11:59 p.m. Central.

Any members who did not receive an invitation to complete the survey should request an invitation from AALL’s partner organization for this project Association Research, Inc. (ARI), at ari@associationresearch.com.

Nonmembers who work in legal information settings can also request an invitation to participate in the survey at ari@associationresearch.com.  Additional information is available on AALLNET.

Today Bloomberg Law is launching enhancements to their Draft Analyzer tool which streamlines the  M&A drafting process. The Draft Analyzer was launched in 2015  as a “what’s market” tool which I reviewed in an earlier post.  The Draft Analyzer streamlines transactional workflow by leveraging a proprietary algorithm to benchmark a clause  to similar provisions from agreements filed as exhibits in the SEC’s EDGAR database. Like the Bloomberg Law Brief Analyzer the Draft Analyzer offers a easy “drop and drag” technology which allows a lawyer to drop a document into the analyzer engine.  “The new enhancements for merger agreements include easy access to market standard language for clauses in the agreement, a new user interface to speed up document navigation and review, and validate defined terms. The tool is linked to clause-specific expert drafting and negotiating guidance.

Draft Analyzer is a drafting workflow tool for transactional attorneys that uses a proprietary algorithm to benchmark the user’s submitted text against similar provisions from agreements filed as exhibits in the SEC’s EDGAR database. The new enhancements for merger agreements include easy access to market standard language for clauses in the agreement, a new user interface to speed up document navigation and review, the ability to quickly review definitions for all terms defined in the agreement, and clause-specific expert drafting and negotiating guidance.

Bloomberg Law Draft Analyzer Market Standard

The press release reports that the tool offers significant efficiencies to M & A lawyers reviewing drafting and searching for language in similar deals. In addition,  85% of beta testers reported that Draft Analyzer will “reduce time spent reviewing and analyzing a merger agreement, and 97% agreed that it will help reduce time spent identifying standard language.”

Workflow and Efficiency Law firms and in-house counsel are laser focused on enhancing workflow efficiency. “We know that reviewing, drafting, and negotiating agreements are part of transactional attorneys’ day-to-day practice, and the newest enhancements to Draft Analyzer allow users to save time and effort,” said Joe Breda, president of Bloomberg Law. “Draft Analyzer joins Brief Analyzer and other innovative Bloomberg Law resources that increase efficiency, all on a single platform and for a single price.”

A brief video overview is available here. 

For more information and to schedule a demo, visit http://onb-law.com/MunL50DhFo6.

Here is the press release:

BLOOMBERG LAW’S DRAFT ANALYZER INCREASES EFFICIENCY FOR M&A ATTORNEYS

 

ARLINGTON, VA (January 25, 2021) — Bloomberg Law announced today key enhancements to its Draft Analyzer tool, which streamlines the process of reviewing, analyzing, and drafting merger agreements. For more information and to schedule a demo, visit http://onb-law.com/MunL50DhFo6.

 

 

<Video will be embedded here: https://vimeo.com/user92501250/review/502762152/9666962bce>

 

The enhanced Draft Analyzer increases efficiency in output for M&A attorneys at law firms and corporations by reducing the hours spent reviewing drafts and searching for language in similar deals. 85% of beta testers agreed that Draft Analyzer will reduce time spent reviewing and analyzing a merger agreement, and 97% agreed that it will help reduce time spent identifying standard language.

 

In the coming months, the Draft Analyzer enhancements – currently limited to merger agreements – will be expanded to include stock and asset purchase agreements as well.

 

“We know that reviewing, drafting, and negotiating agreements are part of transactional attorneys’ day-to-day practice, and the newest enhancements to Draft Analyzer allow users to save time and effort,” said Joe Breda, president of Bloomberg Law. “Draft Analyzer joins Brief Analyzer and other innovative Bloomberg Law resources that increase efficiency, all on a single platform and for a single price.”

 

About Bloomberg Law

Bloomberg Law helps legal professionals provide world-class counsel with access to actionable legal intelligence in a business context. Bloomberg Law delivers a unique combination of comprehensive primary and secondary source material, real-time news, expert analysis, time-saving practice tools including Practical Guidance, market data, and business intelligence. For more information, visit pro.bloomberglaw.com.

 Today  Bloomberg Law  is  announcing  a new access to justice initiative by offering 90 days of complimentary access to the Bloomberg Law platform though the Paladin platform which helps lawyers identify pro bono opportunities. This is the second access to justice initiative Bloomberg Law has announced since the start of 2021. Last week Bloomberg I  covered the announcement of their new partnership with the Legal Services Corporation to provide free access to Bloomberg Law. Kudos to Bloomberg and Paladin. Equal access to justice depends on equal access to  powerful tools  such as Bloomberg Law which streamline the  research process and track the constantly evolving landscape of federal and state  statutes, regulations, precedents and commentary.

Here is the full press release:

BLOOMBERG LAW TEAMS WITH PALADIN TO PROVIDE 90 DAYS’ COMPLIMENTARY ACCESS TO PRO BONO LAWYERS

 

Arlington, Va. (January 19, 2021) — Bloomberg Law today announced that it is now offering 90 days’ complimentary access to its legal research platform to pro bono lawyers through Paladin, a platform that helps lawyers connect with well-aligned pro bono opportunities more efficiently to help those who need it most.

With access to Bloomberg Law, Paladin’s pro bono attorneys can leverage:

  •  Full coverage of key federal and state legislation, regulations, and agency guidance issued as a result of the pandemic and economic crisis.
  • Practical Guidance, trackers, and chart builders covering various state and federal employment laws and regulations.
  • Litigation and transactional resources – market-leading dockets and AI-powered brief and drafting tools.

“Together, Bloomberg Law’s content and technology perfectly complements Paladin’s ability to seamlessly connect lawyers with pro bono work and worthy clients,” said Alex Butler, Vice President, Analysis & Content, Bloomberg Law. “With a vast array of resources across multiple practice areas, attorneys will be able to quickly access the information they need to support their clients.”

“Especially during such a crucial time of need, providing attorneys real-time access to resources that can help their pro bono clients is crucial to achieving the best outcome. We’re thrilled to be able to provide Bloomberg Law’s content to attorneys in our network,” says Kristen Sonday, Paladin’s Co-Founder and COO.

Paladin users can learn more about Bloomberg Law and request access to the platform at http://onb-law.com/JF3g50CRjxq.

 About Bloomberg Law

Bloomberg Law helps legal professionals provide world-class counsel with access to actionable legal intelligence in a business context. Bloomberg Law delivers a unique combination of comprehensive primary and secondary source material, real-time news, expert analysis, time-saving practice tools including Practical Guidance, market data, and business intelligence. For more information, visit pro.bloomberglaw.com.

 

About Paladin
Paladin is a justice tech company whose mission is to increase access to justice by helping legal teams run more efficient pro bono programs. Paladin works with AmLaw250 law firms, Fortune 500s, and bar associations to increase pro bono engagement, decrease administrative costs, and capture the organization’s impact. Read more at joinpaladin.com.

 

Today LexisNexis is announcing the launch of Lexis+ Litigation Analytics. Litigation Analytics does two things. It integrates analytics into the research and practical guidance  workflow.  Lexis+  now offers “enhanced analytics” from Lex Machina as well as state level analytics derived from CourtLink for the states that Lex Machina does not currently cover.
Karl Harris, C.E.O. of Lex Machina a offered me a demonstration of Lexis + Litigation Analytics.. Harris placed analytics within the context of the new workflow which was introduced with Lexis+.  Lexis+ includes a persistent navigation bar which today adds litigation analytics to the 3 original  pillars of,  Lexis + : workflow: research, practical guidance and brief analysis. The Lexis + home page  is designed around an inviting query “What would you like to research today”  hovering over a large search box.  Analytics are still fairly new to the average  lawyer’s toolkit and I think it is wise to remind lawyers about analytics throughout Lexis+ workflow experience..
Harris explained that the core goals of the Lexis+ enhancement was based on customer feedback which highlighted the importance of   accuracy confidence and efficiency in analytics products. In addition they wanted to  deliver an integrated product experience in what Lexis refers to as the Lexis+ ecosystem.

 Lexis+ Litigation Analytics offers the following types of insights:

  • Judge and court analytics: Contextualize understanding of federal district and state courts and judges.
  • Courts & Judges Comparator Quick Tool: Compare judge behavior and courtroom trends over time in federal district court.
  • Attorney and law firm analytics: Assess the experience of attorneys and law firms in federal district and state courts.
  • Counsel Comparator Quick Tool: Compare law firm and attorney performance based on actual results in federal district court.

Bifurcated Data: Enhanced Analytics and “everything else”

Continue Reading Lexis Adds Lex Machina and CourtLink Analytics to the Lexis+ Ecosystem

This week Thomson Reuters Institute and Georgetown Law Center on Ethics and the Legal Profession released their 2021 Report on the State of the Legal Market. It is always an interesting read but this year offered  a petri dish for the transformation of law firms in real time.  2020 was a perfect storm of pandemic, financial uncertainty, social change and political stress.
The Report adopts the theme of Malcolm Gladwell‘s meme-able book The Tipping Point. Contrary to the popular assumption that social change happens slowly and steadily over a period of time Gladwell argues with a metaphor that is equally appropriate for our present circumstances that in many cases change happens more like an epidemic. As he puts it ideas and products and messages and behavior spread like viruses do. Although forces of change may build slowly often a a singular set of circumstances triggers a profound change. The 2020 Report examines whether law firms have reached such a tipping point.
Growth in Profits Per Equity Partner
Some of the data  points highlighted  in the report :

Continue Reading 2021 State of the Legal Market Report – A Tipping Point For Law Firm Transformation?

Today  Bloomberg Law announced a major access to justice initiative by granting free Bloomberg Law access to all the  legal aid organizations supported by the Legal Services Corporation. LSA supports the delivery of high-quality civil assistance in every state, territory and the District of Columbia. LSC President Ronald S. Flagg is underscored the connection between access to information and access to justice in the press release. “Access to high-quality legal research resources is critical to the work America’s legal aid organizations do in serving people living in poverty across the country.” Kudos to Bloomberg Law. Has there ever been a greater urgency in assuring legal representation for the most underserved members of our communities?
Here is the press release:

Legal Services Corporation Grantees To Receive Complimentary Access To Bloomberg Law

January 11, 2021 9:44 AM

Arlington, Va. — Bloomberg Law today announced that it is now offering complimentary access to its legal research platform to all grantees of the Legal Services Corporation (LSC), supporting the delivery of high-quality, civil legal assistance in every U.S. state, territory, and the District of Columbia. Bloomberg Law provides grantees with full coverage of federal and state legislation, regulations, and key agency guidance, including legal issues related to the Covid-19 pandemic and the resulting economic downturn.

Bloomberg Law offers a wealth of high-value resources and time-saving technologies such as Practical Guidance, trackers, and chart builders in practice areas such as labor & employment, health care, tax, and bankruptcy that legal staff in LSC grantee offices can utilize to aid the millions of Americans who have been impacted by the current pandemic. LSC grantees, as with all Bloomberg Law clients, will have access to Bloomberg Law’s Help Desk, which is staffed 24 hours a day, seven days a week by experienced legal professionals.

“We are very grateful to Bloomberg Law for offering complimentary access to its legal research platform to all the legal aid organizations funded by Legal Services Corporation,” commented LSC President Ronald S. Flagg. “Access to high-quality legal research resources is critical to the work America’s legal aid organizations do in serving people living in poverty across the country.”

“Bloomberg Law is committed to addressing the access to justice gap by providing our unmatched combination of legal content and technology to those representing low-income Americans, a population that has sharply increased due to Covid-19 and the economic downturn,” said Alex Butler, Vice President, Analysis & Content, Bloomberg Law.  “We look forward to working with these legal aid organizations on the front-lines of providing high-quality legal assistance to the many deserving families and individuals most in need.”

To learn more about Bloomberg Law visit http://onb-law.com/lPZP50CMcUv.

About Bloomberg Law
Bloomberg Law helps legal professionals provide world-class counsel with access to actionable legal intelligence in a business context. Bloomberg Law delivers a unique combination of comprehensive primary and secondary source material, real-time news, expert analysis, time-saving practice tools including Practical Guidance, market data, and business intelligence. For more information, visit pro.bloomberglaw.com.

About Legal Services Corporation
Legal Services Corporation (LSC) is an independent nonprofit established by Congress in 1974 to provide financial support for civil legal aid to low-income Americans. The Corporation currently provides funding to 132 independent nonprofit legal aid programs in every state, the District of Columbia, and U.S. territories.

OK I am going to say it yet again. Legal news is Hot!. It is only the first week of January and I am announcing the third important change in the Legal News market in three days. On Sunday ALM announced that they were continuing their licensing agreement with Lexis on a non-exclusive basis. Today American Lawyer Media (ALM) and Bloomberg Law are announcing a new licensing agreement.

Bloomberg Law customers will  get access to ALM legal news and information, including more than 3,000 new pieces of original news reporting each month, archived news content, and data from ALM Experts and VerdictSearch. Sticking to their original promise of standard pricing – no surprises – the ALM content will be available to all Bloomberg Law subscribers at no additional cost.

ALM Experts is a database of over 15,000 listings of expert witnesses, investigators, process servers, court reporters, consultants and litigation support professionals from every region of the United States. ALM’s VerdictSearch, includes over 200,000 national and state cases. Both of these content sets will be integrated into Bloomberg Law.

Executives from both companies are quoted in the press release..“We are delighted to enter into this new partnership with Bloomberg Law,” said Richard Caruso, Vice President and General Manager, Global Legal News. “For Bloomberg Law customers, this will allow for a seamless experience to engage with ALM’s legal news, verdicts and experts content within the Bloomberg Law platform.”

“We’re excited to bring Bloomberg Law customers ALM content as part of our fully integrated platform, providing attorneys everything they need in one place,” said Joe Breda, president of Bloomberg Law. “Our investment in ALM’s content is one of many exciting additions for Bloomberg Law.”

The Hot Legal News Market – Today’s announcement is significant for representing a loosing of LexisNexis dominance on the legal news market. For the past decade LexisNexis has held a virtual monopoly on legal news  by providing exclusive access to not only ALM news but also, Law360 and the Wall Street Journal. In recent months, Westlaw announced the launch of Westlaw Today and Fastcase launched Law Steet Media. Yesterday even Lexis announced a specialty offshoot of Law360 called Law360 Pulse which will focus on the business of law.” Bloomberg had already signaled a commitment to enhancing their legal news with the recruitment of Lisa Helem from National Law Journal as their Executive Editor Strategic Initiatives.  Competition provides a powerful incentive for innovation and continuous improvement. The legal market is the winner here.

Here is the full press release:

ALM MEDIA AND BLOOMBERG LAW ENTER NEW CONTENT AGREEMENT

FOR LEGAL NEWS, VERDICTS, EXPERTS

 

ARLINGTON, VA (January 5, 2021) — ALM Media® (ALM), and Bloomberg Law today announced a new licensing agreement that will provide Bloomberg Law customers with ALM legal news and information, including more than 3,000 new pieces of original news reporting each month, archived news content, and data from ALM Experts and VerdictSearch. For more information and to schedule a demo of Bloomberg Law, visit http://onb-law.com/MdSe50CZuwE.

ALM is an authoritative source of news and insights on the legal industry. Bloomberg Law is the strategic provider of an advanced legal technology platform trusted by the country’s largest law firms, corporations, law schools and the U.S. courts.

Within the Bloomberg Law platform, ALM’s news content from brands such as The American Lawyer, Corporate Counsel, The National Law Journal, Legaltech News, and New York Law Journal, among others, joins reporting from Bloomberg Law’s newsroom of more than 200 journalists including correspondents based in key markets around the country and across the globe.

ALM Experts, a database of over 15,000 listings of expert witnesses, investigators, process servers, court reporters, consultants and litigation support professionals from every region of the United States, and content from ALM’s VerdictSearch, including over 200,000 national and state cases, will also be integrated into the Bloomberg Law platform as part of the new agreement.

These content sets supplement Bloomberg Law’s timesaving tools including Practical Guidance and In Focus pages, as well as AI-powered tools such as Brief Analyzer, Litigation Analytics, Docket Key search functionality, Points of Law, and Smart Code.

“We are delighted to enter into this new partnership with Bloomberg Law,” said Richard Caruso, Vice President and General Manager, Global Legal News. “For Bloomberg Law customers, this will allow for a seamless experience to engage with ALM’s legal news, verdicts and experts content within the Bloomberg Law platform.”

“We’re excited to bring Bloomberg Law customers ALM content as part of our fully integrated platform, providing attorneys everything they need in one place,” said Joe Breda, president of Bloomberg Law. “Our investment in ALM’s content is one of many exciting additions for Bloomberg Law.”

As with all enhancements to the Bloomberg Law platform, access to ALM content is available to current subscribers at no additional cost.

About Bloomberg Law

Bloomberg Law helps legal professionals provide world-class counsel with access to actionable legal intelligence in a business context. Bloomberg Law delivers a unique combination of comprehensive primary and secondary source material, real-time news, expert analysis, time-saving practice tools including Practical Guidance, market data, and business intelligence. For more information, visit pro.bloomberglaw.com.

 

About ALM

ALM, an information and intelligence company, provides customers with critical news, data, analysis, marketing solutions and events to successfully manage the business of business. ALM serves a community of over 6 million business professionals seeking to discover, connect and compete in highly complex industries. Please visit www.alm.com for more information, and visit www.alm.com/events/ to learn about our upcoming events. Please follow us on Twitter at @ALMMedia.