Thomson Reuters’  deal to purchase  Casetext has driven the legal tech hype cycle to a fever pitch. Don’t get me wrong. I am a big fan of Casetext. I have been an admirer for over a decade. More than once, I have watched them not just beat the market, but redirect the market and invent whole new categories of legal research products. I have spent a lot of time over the past few years musing about innovation,  new product categories and market advantage.

When Casetext created the “brief analysis” tool CARA, it was three years before even one of the largest legal information companies launched a brief analyzer and it was four years before all three,; Thomson Reuters, LexisNexis and Bloomberg Law, had a brief analyzer on the market.

Note: vLex (Fastcase) launched the Vincent “brief checker” in the international market in 2018., two years after the launch of CARA. The above graphic was focused on the U. S. market.

Similarly, with Compose, Casetext introduced “parallel search” and a new category of concept searching was born. Or as Casetext co-founder Pablo Arredondo likes to exclaim “parallel search freed lawyers from the prison of the keyword.” This time The market responded in less than two years. LexisNexis launched “Fact and issue Finder” which leveraged extractive AI technology built on a highly tailored version of Google’s BERT to present insights to researchers.   Westlaw responded with Westlaw Precision built with a large editorial team to help with machine learning. The response time in the market is growing shorter.

Industry Insiders’ Perspectives I have spoken to several legal tech industry insiders and the consensus seems to be that within 6  to 12 months, Thomson Reuters competitors Lexis, Bloomberg Law, and vLex (formerly Fastcase)  are likely to have developed capabilities which can compete with CoCounsel. No one is starting from scratch. According to Ed Walters, Chief Strategy Officer at vLex, “we already have global AI products in the labs. We don’t release vaporware, but these products are coming no matter who owns Casetext.”Continue Reading Thomson Reuters $650M Bet on Casetext CoCounsel. Did They Buy Market Dominance or Just Time?

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

For the past few decades, the traditional law library has been transformed by the digitization of statutes, regulations, and commentary. Law Librarians and KM professionals have become the curators of an ever-expanding universe of commercial, dynamic data sources including company profiles, competitor profiles, experience data, insights into judges, experts, and arbitrators, deal data, dockets, and

 Today Thomson Reuters announced the launch of HighQ Contract Analysis. The produce speeds contract review and analysis with machine learning technology. to answer the specific questions legal professionals want to address – in an easy-to-read report.

According to the press release, HighQ Contract Analysis  leverages machine learning and pre-trained models “to help attorneys increase efficiency, reduce risk, and accelerate the contract-review process for transaction due
Continue Reading Thomson Reuters Launches AI-Powered HighQ Contract Analysis

In a prior post  I reported  survey results on products to be purchased in 2020 and 2021… which included a fairly broad spectrum of products. Major vendors Lexis, Westlaw, Bloomberg and Wolters Kluwer were evenly represented at the top of the list. There were dozens of additional products identified by one or two responders. Today I am reporting on responses to the survey results on cancellations which presents a dramatic contrast. One product stood alone  as the most likely to be cancelled. That product is Lex

Continue Reading The Dewey B Strategic 2020-21 Hits and Misses Survey – The Product Most Likely to be Cancelled is — Lex Machina

The 2020-2021 Dewey B Strategic Hits and Misses survey asked responders to identify products purchased in 2020 or to be purchased in 2021. Despite the financial concerns triggered by the pandemic, law firm librarians continued to consider new products. Some new products such as Westlaw Edge and Lexis + are often driven by an impeding contract renewal. Other product selections are  driven by  practice demands as well as a desire to remain competitive by introducing innovative solutions and enhance productivity.

The Top Products Four was the magic number this year. Each of the top vote getters were identified by 4 responders as new purchases.
Continue Reading The Dewey B Strategic 2020-21 Hits and Misses Survey: What Research, KM/Workflow and Analytics Products are Readers Buying?

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

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