The Q2 2024 Thomson Reuters Law Firm Financial Index (LFFI), powered by Financial Insights, showed continued strong growth for law firms amid a resurgence in transactional practices and solid fundamentals in the second quarter of 2024. Released today by Thomson Reuters, the report showed a healthy outlook for law firms with overall demand up 2.4% …
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Claims Explorer: The Latest Generative AI Skill in Westlaw Precision with CoCounsel
Today Thomson Reuters introduced Claims Explorer, a new generative AI skill available in Westlaw Precision with CoCounsel, that simplifies claims research, saves time, and reduces the risk of missing an important cause of action. The new skill enables legal professionals to enter facts and identify applicable claims or counterclaims. Using generative AI to simplify claims research, …
“Tech spending remains especially hot:” Reactions to the Thomson Reuters Q1 2024 Law Firm Financial Index
“While overhead expenses continued to cool during the first part of 2024, tech spending remains especially hot,” Andrew Maloney noted in Law.com’s coverage of the Q1 2024 Thomson Reuters Law Firm Financial Index. “Taking inflation into account, law firms are investing in technology at their most rapid pace since at least 2014, the report noted. …
Record Revenue and Rate Growth: Top Takeaways from Q1 2024 Thomson Reuters Law Firm Financial Index
Law firms achieved elevated revenue growth in the first quarter of 2024 and continued to heavily invest in technology. These are among the findings of the Q1 2024 Thomson Reuters Law Firm Financial Index (LFFI), powered by Financial Insights. Legal Current shares key takeaways from the report, which found that law firms returned to a …
Law Firm Recovery Continues: Takeaways from Q2 2023 Thomson Reuters Law Firm Financial Index
The strong start for the law firm market in 2023 continued in the second quarter with robust rate growth and demand up for the second consecutive quarter. These are among the findings of the Q2 2023 Thomson Reuters Law Firm Financial Index (LFFI) powered by Financial Insights. Legal Current highlights top takeaways from the report, …
Dynamic Law Firms Report: Strategies Top-Performing Firms Use to Fuel Growth
Law firms that invest in technology and innovation earn higher revenues. This is among the key takeaways of the 2023 Dynamic Law Firms Report, which examines a 10-year stretch of data to identify the strategies law firms are using to ensure long-term success and growth. The report found that when clients perceive a firm they …
2023 State of the Corporate Law Department: Three Key Takeaways
Complying with growing global regulatory complexity represents the biggest legal threat to businesses, according to the 2023 State of the Corporate Law Department report from the Thomson Reuters Institute. The report found that 28% of global law departments cite frequency and complexity of regulatory changes as the biggest anticipated risk to their business. Legal Current …
UK Supreme Court Dockets on Westlaw: Five Key Takeaways
Thomson Reuters is providing legal professionals with more comprehensive coverage of UK courts and access to real-time updates, expert editorial case analysis, and content sets unique to Westlaw UK. Available March 22, the addition of UK Supreme Court Dockets on Westlaw will give legal researchers easier access to High Court and Supreme Court proceedings, integrated …
Three Ways to Use Litigation Analytics for Companies on Westlaw
Thomson Reuters is enhancing Westlaw with the addition of Litigation Analytics for Companies, providing advanced capabilities to efficiently search and analyze litigation trends by company or industry. Litigation Analytics on Westlaw Precision and Westlaw Edge already provides docket analytics – drawn from federal and state courts – on judges, courts, damages, attorneys, law firms, and …
2019 Highlights: The $10B Alternative Legal Service Providers Market
As 2019 winds down, Legal Current is revisiting milestones and key accomplishments from the Legal business of Thomson Reuters this year. Today we look at the “Alternative Legal Service Providers 2019: Fast Growth, Expanding Use and Increasing Opportunity” report – more commonly known as the ALSP Report. Released in January, the report highlights how the …
