Legal departments are maximizing plateauing headcount and driving efficiencies, even while demands on their time increase, according to the 2018 Thomson Reuters Corporate Legal Department Efficiency Report: Doing More With Less and Increasing Productivity in Corporate Legal Settings. The 2018 report — the third in a series of Thomson Reuters efficiency reports — surveyed 462 …
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Thomson Reuters Unveils New Legal Research Platform with Advanced AI: Westlaw Edge
MINNEAPOLIS-ST. PAUL, July 12, 2018 – Thomson Reuters today introduced Westlaw Edge, the latest advancement in legal research, providing legal professionals with the next generation of AI-driven legal search, exclusive new warnings for law that is no longer valid, unrivaled litigation analytics, and sophisticated new research tools that help legal professionals deliver results to clients …
#CLOC2018: Building a Mature Legal Operations Function
The Corporate Legal Operations Consortium (CLOC) states that legal operations is a multi-disciplinary function that optimizes legal services delivery to a business or government entity by focusing on core competencies, which are broken into three levels: foundational, advanced and mature. Regardless of where your legal department stands in relation to these competencies, the session titled …
Corporate Legal Departments moving more work in-house even as satisfaction with outside counsel value increases
Corporate legal departments are seeing greater value for the legal services they receive from their outside counsel, according to the 2018 State of Corporate Law Departments Report from Thomson Reuters and Acritas. The average satisfaction rating of outside counsel based on value has increased 9 percent over the last five years showing improvements across all …
#LEIMPF2018 – Strange Bedfellows
Alternative legal services providers (ALSPs) entered the legal market via a frosty reception by many, especially law firms, and have substantially impacted the legal market. But corporate law departments, who also may have been somewhat skeptical, were at least more willing to explore working with these alternative providers to deliver certain legal services at a …
New Thomson Reuters Legal Tracker LDO Index Finds Billing Guideline Enforcement and Proactive Law Firms Control Costs, Not Fixed Fees and RFPs
Corporate legal departments say their most effective cost controls are enforcement of billing guidelines, reductions on invoice expenses, and working with law firms that pro-actively show their value. At the same time, many legal departments are not using fixed or flat fees, matter budgets, competitive bidding through requests for proposals (RFPs) or reallocation of work …
ACCAM17 Panel – Key Issues in Negotiating and Drafting Subscription Services Agreements
Technology was a common theme at the Association of Corporate Counsel (ACC) annual meeting, from the opening plenary on blockchain, to sessions on payment fintech and cybersecurity. Technology-related contracting continues to attract significant interest among lawyers, whether it’s utilizing automation or machine learning in the drafting and review processes, or substantive issues that typically arise in …
ACCAM17 Panel – What Technology Should Your Legal Department Deploy Now?
What is your problem? Maybe the question should be what “are” your problems? At the 2017 Association of Corporation Counsel (ACC) annual meeting, a session focused on helping smaller legal departments look at what, where, when and how to deploy existing technologies to address their pain points. A survey of the attendees prior to …
ACCAM17 – How much and where does AI fit within compliance and litigation?
“I am not in the business of predicting the future, but in the business of making the future,” said Khalid Al-Kofahi, vice president, Research and Development at Thomson Reuters, as part of a panel at the 2017 Association of Corporate Counsel (ACC) annual meeting discussing artificial intelligence (AI) and its influence in the legal profession. …
ACCAM17 Panel – The Emerging Law and Public Policy of Self-Driving Cars
Most of us have seen and maybe even envied the use of self-driving cars in movies or television shows ranging from the Batmobile in Batman, Herbie, I, Robot and K.I.T.T. from Knight Rider. At the 2017 Association of Corporate Counsel (ACC) Annual Meeting, one panel took a look the emerging laws and public policy surrounding …
