Bloomberg Law Explained

Bloomberg Law
Parent:Bloomberg L.P.
Commercial:Yes
Type:Subscription-based service for online legal research
Registration:Required
Language:English
Content Licence:-->
Owner:Michael Bloomberg (88%) and Bank of America (12%; through Merrill Lynch)
Editors:-->
Current Status:Online

Bloomberg Law is a subscription-based service that uses data analytics and artificial intelligence for online legal research. The service, which Bloomberg L.P. introduced in 2009, provides legal content, proprietary company information and news information to attorneys, law students, and other legal professionals.[1] More specifically, this commercial legal and business technology platform integrates Bloomberg Law News with Bloomberg Industry Group's primary and secondary legal content and business development tools.[2] [3] [4] [5]

Creation and services

Bloomberg Law's web-based platform was first released under a pilot program in late 2009.[6] According to the Financial Times, "the unit forms part of the data provider's drive to diversify beyond the banks and investment groups that make up the core customers for its eponymous terminals."[7] In 2010, the service was formally launched. According to Bloomberg BNA, the platform was developed to help law firms grow their top line revenue, provide counsel by getting answers quickly and efficiently, and maintain and increase their profitability.[8]

Prior to the creation of Bloomberg Law, two services, LexisNexis and Westlaw, comprised the majority of the legal research market. Bloomberg L.P. sought to separate itself from the competition by offering an integration of the Bloomberg company and financial data with legal research. Bloomberg Law combines content from Bloomberg's global news network, legal analysis, court dockets, legal filings and reports from Bloomberg legal analysts as well as business news and information. Attorneys can also draw upon stock charts, search patent histories and find information about relevant judges and attorneys.[9] The service is priced to include all features under a fixed monthly fee.[10]

In 2011, Bloomberg L.P. purchased Bureau of National Affairs (BNA),[11] [12] and integrated legal materials from BNA into Bloomberg Law.[13] Features include Litigation and Dockets, Legal and Financial Analytics, Business Development Center, Practice Tools and News and Law Reports.[14] In September 2019, Bloomberg BNA changed its name to Bloomberg Industry Group, which includes Bloomberg Law, Bloomberg Tax, Bloomberg Government, and Bloomberg Environment.[15]

Growth and expansion

In October 2010, Lou Andreozzi, a former chief executive officer of LexisNexis North American Legal Markets, joined Bloomberg Law as chairman and Larry Thompson, a former global marketing officer of LexisNexis, joined as chief operating officer.[16] In September 2011, Bloomberg acquired legal publisher Bureau of National Affairs (BNA) to bolster its proprietary data and content.[17]

In September 2012, Greg McCaffery was named chief executive officer of Bloomberg Law. McCaffery had previously served as chief executive officer and president of Bloomberg BNA.[18] In January 2014, Bloomberg BNA, a Bloomberg L.P. subsidiary, took over day-to-day operations of Bloomberg Law.[19] In 2018, Josh Eastright assumed the role of CEO of Bloomberg BNA.[20]

Between 2014 and 2015, Bloomberg Law expanded and debuted features including dockets covering state, federal, and select international court cases, financial and legal analytics, and practice-specific products for corporate transactions,[21] privacy and data security, and banking. In July 2018, Joe Breda was named President of Bloomberg Law, succeeding Scott Mozarsky. Breda previously served as the Executive Vice President of Bloomberg Industry Group's (then called Bloomberg BNA) Product team.[22]

Bloomberg Law has integrated Bloomberg Industry Group products and focuses on practice tools for attorney productivity.[23]

Features

See also

External links

Notes and References

  1. News: Bloomberg Hangs New Shingle . August 15, 2011 . MarketWatch. The Wall Street Journal . July 8, 2010 . Adams . Russell .
  2. "New Bloomberg Law App Provides Seamless Access To Personalized Content", PR Newswire (Feb 21, 2014).
  3. "Bloomberg Law Launches Business Development Center ", Reuters (November 29, 2012).
  4. Mary Ann Neary and George D. Wilson, "Bloomberg Law, the newcomer in legal research, meets academic users ", AALL Spectrum (March 2009).
  5. "Bloomberg Law Puts BNA Leader, Greg McCaffery, as New CEO", 3 Geeks and a Law Blog (September 4, 2012).
  6. Web site: Bloomberg to Compete with Lexis and Westlaw . October 6, 2009 . April 3, 2013 . Above the Law (blog).
  7. Web site: Bloomberg Law's Discounts Pose Threat . April 3, 2013 . Financial Times.
  8. Web site: Bloomberg BNA Announces Support Of The Legal Aid Society Of The District Of Columbia -- Offers Complimentary Access To Bloomberg Law Technology Platform.
  9. News: Can Bloomberg Law Compete With Westlaw and LexisNexis? . August 4, 2011 . The Wall Street Journal.
  10. Web site: Bloomberg LP Lays Down the Law . June 19, 2012 . Crain's New York Business. November 21, 2010 .
  11. Douglas, Danielle (August 25, 2011). "Bloomberg Snags BNA for $990M". Capital Business Blog (of The Washington Post). Retrieved June 20, 2013.
  12. Web site: Rodgers. Loren. BNA to Be Acquired by Bloomberg . The Employee Ownership Update. National Center for Employee Ownership. September 15, 2011 . March 28, 2013.
  13. Web site: Press release . Bloomberg Law Expands with Integration of BNA Content . . April 2, 2012. June 20, 2013.
  14. "Bloomberg Law Overview", Bloomberg Law.
  15. Web site: O'Grady . Jean . Bloomberg BNA Announces BIG Name Change Now: Bloomberg Industry Group . Dewey Strategies . September 4, 2019 . 10 February 2020.
  16. News: Legal Briefs: Bloomberg Law Fills Pair of Leadership Positions with Former LexisNexis Executives . February 2, 2011 . . Amanda . Becker . October 25, 2010.
  17. Web site: Bloomberg's $990M Bid for BNA Succeeds . February 29, 2012 . Yahoo! News.
  18. Greg McCaffery Named CEO of Bloomberg Law . September 21, 2012 . Business Wire. September 4, 2012 .
  19. "Bloomberg Law to Rebrand as Bloomberg BNA", Legal Tech News (July 30, 2013).
  20. Web site: Josh Eastright | Bloomberg BNA . July 2, 2018 . https://web.archive.org/web/20180629131032/https://www.bna.com/josh-eastright-m73014460939/ . June 29, 2018 . dead .
  21. Bloomberg BNA launches Bloomberg Law: Corporate Transactions. Bloomberg BNA. 19 May 2015.
  22. Web site: Ambrogi . Bob . Breaking: Mozarsky Out As Bloomberg Law President; Breda Replaces Him . Lawsitesblog . July 10, 2018 . 10 February 2020.
  23. Bloomberg Law Expands With Integration of BNA Content . Bloomberg . 5 April 2012. 10 February 2020.
  24. Web site: Docket Searching: Easier Than Ever on Bloomberg Law. Jameson Law Library Blog. September 8, 2013.
  25. "Is this the Next Big Thing in Legal IT, as Bloomberg launches Bloomberg Law: Corporate Transactions", Legal Insider (May 19, 2015).
  26. Web site: The Future Of Law And Technology: An Interview With Bloomberg BNA's David Perla. Above the Law. August 27, 2015 .
  27. Web site: Bloomberg Law trains machine to highlight legal points . ABA Journal . September 26, 2017 . 10 February 2020.
  28. Web site: BNA State Chart Builders . UNC School of Law . 10 February 2020.
  29. Web site: How Bloomberg is Changing Legal Annotation . Legal Talk Network . 10 February 2020.
  30. Web site: Now Comes Another Brief Analyzer, this from Bloomberg Law . Lawsitesblog . July 16, 2019 . 10 February 2020.
  31. News: Ambrogi . Bob . Bloomberg Law Says It Has 'Significantly' Expanded its Litigation Analytics . Law Sites . April 16, 2019.
  32. News: Ambrogi . Bob . Bloomberg Law Announces New Practical Guidance, SEC Analytics, and Real-Time News . Law Sites . July 10, 2018.

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