Bloomberg Law is a subscription-based service that uses data analytics and artificial intelligence for online legal research. The service, which
Bloomberg L.P.
Bloomberg L.P. is a privately held financial, software, data, and media company headquartered in Midtown Manhattan, New York City. It was co-founded by Michael Bloomberg in 1981, with Thomas Secunda, Duncan MacMillan, Charles Zegar, and a 1 ...
introduced in 2009, provides legal content, proprietary company information and news information to attorneys, law students, and other legal professionals.
More specifically, this commercial legal and business technology platform integrates
Bloomberg Law News with
Bloomberg Industry Group
Bloomberg Industry Group (formerly known as Bloomberg BNA, The Bureau of National Affairs, Inc., and BNA) is an affiliate of Bloomberg L.P. and a source of legal, tax, regulatory, and business information for professionals. It is headquartered in ...
's primary and secondary legal content and business development tools.
[New Bloomberg Law App Provides Seamless Access To Personalized Content]
, ''PR Newswire'' (Feb 21, 2014).[Bloomberg Law Launches Business Development Center]
", ''Reuters'' (November 29, 2012).[Mary Ann Neary and George D. Wilson,]
Bloomberg Law, the newcomer in legal research, meets academic users
", ''AALL Spectrum'' (March 2009).
, ''3 Geeks and a Law Blog'' (September 4, 2012).
Creation and services
Bloomberg Law's web-based platform was first released under a pilot program in late 2009. According to the ''
Financial Times
The ''Financial Times'' (''FT'') is a British daily newspaper printed in broadsheet and published digitally that focuses on business and economic current affairs. Based in London, England, the paper is owned by a Japanese holding company, Ni ...
'', "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." 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.
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. The service is priced to include all features under a fixed monthly fee.
In 2011, Bloomberg L.P. purchased
Bureau of National Affairs
Bloomberg Industry Group (formerly known as Bloomberg BNA, The Bureau of National Affairs, Inc., and BNA) is an affiliate of Bloomberg L.P. and a source of legal, tax, regulatory, and business information for professionals. It is headquartered in ...
(BNA), and integrated legal materials from BNA into Bloomberg Law. Features include Litigation and Dockets, Legal and Financial Analytics, Business Development Center, Practice Tools and News and Law Reports. In September 2019, Bloomberg BNA changed its name to Bloomberg Industry Group, which includes Bloomberg Law, Bloomberg Tax, Bloomberg Government, and Bloomberg Environment.
Growth and expansion
In October 2010, Lou Andreozzi, a former chief executive officer of
LexisNexis
LexisNexis is a part of the RELX corporation that sells data analytics products and various databases that are accessed through online portals, including portals for computer-assisted legal research (CALR), newspaper search, and consumer info ...
North American Legal Markets, joined Bloomberg Law as chairman and Larry Thompson, a former global marketing officer of LexisNexis, joined as chief operating officer. In September 2011, Bloomberg acquired legal publisher
Bureau of National Affairs
Bloomberg Industry Group (formerly known as Bloomberg BNA, The Bureau of National Affairs, Inc., and BNA) is an affiliate of Bloomberg L.P. and a source of legal, tax, regulatory, and business information for professionals. It is headquartered in ...
(BNA) to bolster its proprietary data and content.
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.
In January 2014, Bloomberg BNA, a Bloomberg L.P. subsidiary, took over day-to-day operations of ''Bloomberg Law''. In 2018, Josh Eastright assumed the role of CEO of Bloomberg BNA.
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
Mergers and acquisitions (M&A) are business transactions in which the ownership of companies, other business organizations, or their operating units are transferred to or consolidated with another company or business organization. As an aspect ...
,
privacy and
data security
Data security means protecting digital data, such as those in a database, from destructive forces and from the unwanted actions of unauthorized users, such as a cyberattack or a data breach.
Technologies
Disk encryption
Disk encryption refe ...
, and
banking
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets.
Becau ...
. 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.
Bloomberg Law has integrated Bloomberg Industry Group products and focuses on practice tools for attorney productivity.
Features
*
Dockets: Bloomberg Law Dockets cover state, federal, and select international court cases. Users also have access to Breaking Complaints, unlimited alerts, and searches.
*
Analytics: There are two major sets of analytics available on Bloomberg Law: financial and legal.
[Is this the Next Big Thing in Legal IT, as Bloomberg launches Bloomberg Law: Corporate Transactions]
, ''Legal Insider'' (May 19, 2015). Bloomberg Law News Search houses over 50,000 news wires, while the Business Development Center pulls together business news searches to provide insights into M&A rumors, bankruptcy rumors, recent attorney moves, and other criteria.
* Points of Law: Case law research tools using artificial intelligence to identify court decisions on a particular point of law.
*State Chart Builders: Allows comparison of relevant laws and regulations from different jurisdictions.
* Smart Code: Uses artificial intelligence and machine learning to create virtual annotated codes.
* Brief Analyzer: Tools that use artificial intelligence to reduce time analyzing legal briefs.
* Litigation Analytics: Organization of analysis by attorneys, law firms, courts, judges, and companies.
* Practical Guidance: Coverage for litigators and transactional attorneys in various practice areas.
See also
*
Bloomberg Government
Bloomberg Government is a division of Bloomberg Industry Group that provides data-driven decision tools, news, and analytics in a digital workspace for professionals who influence government action.
History
Bloomberg Government launched in 2011 ...
*
Bloomberg L.P.
Bloomberg L.P. is a privately held financial, software, data, and media company headquartered in Midtown Manhattan, New York City. It was co-founded by Michael Bloomberg in 1981, with Thomas Secunda, Duncan MacMillan, Charles Zegar, and a 1 ...
References
External links
*
Bloomberg.com– Official Bloomberg L.P. website
Bloomberg BNABloomberg BNA Next
{{Bloomberg
2010 establishments in New York City
Law
Law is a set of rules that are created and are enforceable by social or governmental institutions to regulate behavior,Robertson, ''Crimes against humanity'', 90. with its precise definition a matter of longstanding debate. It has been vario ...
Internet properties established in 2010
Legal research
News agencies based in the United States
Mass media companies based in New York City