Thomson Reuters provided legal industry journalists a sneak peek of AI-Assisted Research on Westlaw Precision and introduced a series of additional initiatives, including the new generative AI assistant connecting all Thomson Reuters generative AI products, Thomson Reuters Generative AI Platform, generative AI capabilities in Practical Law, and CoCounsel Core. Legal Current shares perspectives from legal …
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Record Growth in Attorney Rates in 2023: More of the Same in 2024?
Just in time for fourth quarter – when many law firms are exploring rate setting with clients for the coming year – is a new Thomson Reuters report, Law firm rates in 2023: What’s working, what isn’t, and how to move forward in 2024. It examines the current and historical performance of law firm rates …
2022 Highlights: Law Firm Financial Index Reports Highlight Trends in Law Firm Profitability
Legal Current’s year-in-review series looks back at 2022 milestones for the Legal Professionals business. Today we revisit the quarterly Law Firm Financial Index (LFFI) reports from the Thomson Reuters Institute. LFFI is a composite index of law firm market performance using real-time data drawn from major law firms in the United States and key international …
2022 Highlights: Westlaw Precision Improves Research Speed and Quality for Legal Professionals
As 2022 comes to a close, Legal Current is reflecting on the Legal Professionals business’s milestones from the year. Today we look at the debut of Westlaw Precision and how it’s dramatically improving research speed and quality for legal professionals. Its six new research capabilities – Precision Research, KeyCite Cited With, KeyCite Overruled in Part, …
2022 Highlights: The Importance of Cash and Culture in Lawyer Retention
With 2022 winding down, Legal Current is reflecting on the Legal Professionals business’s milestones from the year. Today we look at the Law Firms Competing for Talent in 2022: Will Lawyers Stay or Will They Go? report – and what a difference a few months makes. When the legal industry was buzzing about lawyer retention and …
Westlaw Precision: Expanded KeyCite Functionality and a New Striped Flag
“This is legal nerd stuff, but Westlaw has a new KeyCite flag between Yellow and Red and it’s exciting.” Above the Law Editor Joe Patrice’s tweet about KeyCite Overruled in Part fueled some of the buzz over the new features in Westlaw Precision. Legal Current is taking a closer look at the six new research …
Reactions to the 2022 Report on the State of the Legal Market
Last week, Legal Current shared the five key takeaways from the 2022 Report on the State of the Legal Market, which explored why law firms can’t just keep throwing money at the growing talent war. Today, we highlight takes from journalists, bloggers and industry influencers on the report findings. Many focused on the industry’s retention …
2021 Highlights: Practical Law Dynamic Tool Set
As 2021 winds down, Legal Current is looking back at the milestones and key accomplishments from the Legal Professionals business of Thomson Reuters. Today we highlight the launch of Practical Law Dynamic Tool Set, which Thomson Reuters introduced in July. The tool set includes features in Practical Law that use AI and dynamic graphical navigation …
Practical Law Dynamic Tool Set Wins “Legal Research Innovation of the Year” Award
Yesterday Practical Law Dynamic Tool Set was announced as a 2021 LegalTech Breakthrough Award winner in the “Legal Research Innovation of the Year” category. The award recognizes standout legal technology companies, products and services around the globe. LegalTech Breakthrough’s international annual awards program, which attracted more than 1,300 nominations from more than 12 countries this …
2020 Highlights: Predictions from Richard Punt on the Future of the Legal Industry
With the year winding down, Legal Current is revisiting 2020 milestones and key accomplishments from the Legal business of Thomson Reuters. Today we look at the keynote address delivered by Richard Punt, managing director of Legal Strategy and Market Development for Thomson Reuters, at ILTA>ON, the virtual version of in the International Legal Technology Association’s …
