The major takeaway from the 2018-19 Dewey B Strategic Hits and Misses Survey is that consumers of legal information regard 2018 as “a miss.” The problem wasn’t so much the products—although products play an important role in triggering the discontent. The major problem is the behavior of legal publishers. Legal publishing is a mature

For years I have been heaping praise on Thomson Reuters for producing one of the first marketing pieces that took a crack at quantifying the time savings delivered by one of their workflow products.  The chart offers a simple comparison of several tasks and shows the time it takes to perform each task and with and without the use of the Practical Law Resources. See Illustration below.

It is probably five years since I saw that first chart and I recently began investigating whether Thomson Reuters has moved from producing a marketing piece to delivering a real tool that could actually help a customer determine or even estimate the time savings or efficiency delivered by Practical Law.   I am picking on Thomson Reuters but the truth is that none of the large legal information publishers ( LexisNexis, Wolters Kluwer or Bloomberg Law) which have enhanced their research products with workflow solutions are offering any resource to measuring the ROI of their products.  For
Continue Reading Your Workflow Product Costs Half a Million Dollars — Now How Do I Measure My ROI? Where is the Quickview and PowerInvoice for Practical Law and Lexis Practice Advisor?

The results of the 2017 Start Stop Survey are in. Thanks to everyone who participated in the survey. My apologies for the delay in compiling the results – let me blame a series of unexpected events starting in December and continuing through the spring.

Can it Be? The Best New Legal Information Product is FREE!  Although AALL’s daily newsletter launched in late 2016 it really gained traction in 2017. I am also a daily reader. Know It AALL aggregates legal knowledge and technology stories from around the web ranging from academic publications to popular blogs and news sites. It is like a fresh cup of news serendipity to drink in along with your morning coffee. (Full disclosure: I am currently on the Board of the American Association of Law Libraries which publishes the newsletter..) The Know it AALL is available for free to anyone who wishes to subscribe at this link.

What is the best NEW PRODUCT you became aware of in 2017?
Continue Reading Start Stop Survey Results AALL’s — “The Know it AALL” Is Voted Best New Product and Bloomberg Law’s “Docket Key” Best New Feature

“The age of analytics and algorithms is upon us. A new and important role is emerging for information professionals. They will help lawyers ask new questions and gain new insights using analytics. ”

Read my analysis of this trend in the November/December 2017 issue of AALL Spectrum. Click here to read Analytics and Insights:

Wolters Kluwer Legal & Regulatory U.S. continues to release new products and features with astonishing regularity.

M&A Clause Analytics Home Page

On July 24th, they released M&A Clause Analytics, a new workflow tool which combines machine learning and human expert curation to streamline the M&A drafting process. The product is designed to help lawyers quickly locate the best model documents and clauses. Wolters Kluwer Partnered with Kingsly Martin of KM Standards to develop a statistical analysis of 17000 documents from WK’s RB Source database of SEC Filings. According to the press release the product is designed in response to a legal market focused on enhancing “quality, efficiency, and ease of preparing merger and acquisition agreements.” M&A Analytics which covers 13 document types. will be a central component of the Transactional Law Suite for Securities.

Continue Reading Wolters Kluwer Partners with KM Standards and Launches AI Workflow Tool: M&A Clause Analytics

As market power shifts from law firms to in-house counsel, Bloomberg Law has responded by bulking up the Corporate Practice Center with resources designed to address the special needs of Chief Legal Officers, Chief Compliance Officers and Chief Operating Officers.  Earlier this year Bloomberg Law relaunched the Corporate Practice Center with materials developed with extensive input from corporate counsel at major U.S. Companies. The Corporate Practice at Center  includes  practice pages covering: compliance, legal operations, corporate governance,  alternative business structures, litigation and corporate news. In addition an “In Focus, “hot topics” section offers deep coverage of special topics such as proxy regulation and FCPA.

Bloomberg and the Association for Corporate Counsel (ACC) also announced that they had entered a  strategic collaboration for Bloomberg Law to offer sponsored content, practice tools and editorial expertise to ACC members through professional enrichment, educational and development programs.

Continue Reading Bloomberg Law Relaunches Corporate Practice Center with In-House Counsel Focus: Compliance, Toolkits and Analytics