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Market intelligence solutions provide deep data insights into and analyses of specific industries and markets, allowing law firms and legal departments to better understand their clients' business and provide more informed advice. RR Donnelley is a leading provider of market intelligence.

Market Intelligence

Data management solutions catering to the legal industry have proliferated as both law firms and in-house departments have come to realize (1) the wealth of data they have at their disposal and (2) the opportunities to be gained from properly leveraging that data. The solutions available run the gamut from analytics tools, many of which can be leveraged over both internal and external sources of data, to data visualization tools and tools that structure data and assist in the extraction of data from documents and other content types. Judicial or litigation analytics solutions such as Gavelytics, Lex Machina and Ravel by LexisNexis provide insights that support litigation strategy and early case assessment, while market intelligence tools provide analytics on external industry data. Data visualization solutions such as Brainspace by Reveal add value to eDiscovery, but generic tools like Power BI and Tableau, as well as newcomer Structura, allow for powerful visualizations and reporting across independent and discrete data sets. Increasingly, vendors such as Fastcase and Thomson Reuters have realized that law firms will pay for data APIs and sandboxes allowing them to integrate data to produce actionable insights. This is a growing space, with broad solutions allowing great flexibility, as well as niche areas such as IP analytics.

Data

Online legal research solutions have evolved in sophistication, with many now including analytics capabilities and utilizing artificial intelligence to improve results and relevancy. In addition to the longstanding major players such as LexisNexis, Thomson Reuters and Bloomberg, the market for online research tools is now crowded with additional practice area- and market-specific solutions that provide more targeted intelligence. As these resources are necessarily limited by jurisdictional relevancy, each region requires its own solutions. Legaltech Hub currently only covers the following regions: US, UK, Canada, Australia. Over time, this content will be built out to cover additional regions.

Legal Research

Case law research tools allow users to find caselaw to support legal arguments, suggest caselaw in opposition of an argument, and verify whether case law is still valid. Users can search various databases (often jurisdiction based) to find case law that supports or contradicts a legal argument. Many research databases include tools to verify whether a case is still good law or is overturned.Some providers have introduced solutions underpinned by sophisticated technology, such as AI or analytics. Incumbent providers in the USA and UK are Westlaw and LexisNexis, with Bloomberg making up the third large player in the US. In jurisdictions such as continental Europe, Wolters Kluwer is another leader. This category, due to the jurisdictional nature of legal research, varies significantly by region. In the USA, new entrants to the market include Fastcase and Casetext.

Caselaw Research

Cataloging

Legislative research software provides insights into the status of pending legislation and the legislative history. Comparing the law at different points in time is important as is knowing that the law as published is still valid and not overturned. Incumbent providers in the USA and UK are Westlaw and State Net by LexisNexis, in continental Europe Wolters Kluwer also is an incumbent. In the USA, new entrants to the market include FiscalNote, Fastcase and Casetext.

Legislative and Regulatory

Practical Guidance

Brief analysis tools provide a starting point for legal research, or a final check of court documents prior to filing. These solutions allow users to upload a brief or any document containing citations, and provides an analysis of the caselaw cited, including a report of cases that are relevant to the issues in the brief. The leading solution in the United States is Casetext Legal Research. In France, Doctrine is the category leader. Both Westlaw and LexisNexis have developed competitor products.

Brief Analysis

Judicial or litigation analytics involve the application of data analytics to litigation data. The data commonly drawn upon in such resources include the decisions of judges in relation to court cases, motions and appeals, settlement sums, case duration, success rates of counsel, and so on. Judicial analytics tools can provide insights into whether, for example, a motion for summary dismissal might be successful in a certain jurisdiction before a particular judge, whether a case is likely settle and for what amount, and which law firm is most likely to succeed in litigating a specific type of matter. As a result, these solutions are helpful to inform case strategy, advise clients and prepare budgets, and for early case assessment. Lex Machina, Gavelytics, Ravel View in LexisNexis, Westlaw Edge and Docket Alarm are leaders in this area in the US. In Canada, Court Analytics by Loom Analytics is a strong contender.

Judicial Analytics

News aggregators pull relevant content from multiple locations and republish it in a single interface. Legal news aggregators solve a critical problem in law firms and legal organizations: in order to stay updated on the law and client-relevant market news, lawyers end up with multiple daily alerts and a crowded email inbox. News aggregators consolidate these alerts and allow research functions to customize and control the timing of emails sent to each lawyer. Leading legal news aggregators include Manzama and Vable.

News Aggregator