10 Reasons In-House Counsel Use Us
Today’s in-house counsel must be an effective generalist for a wide variety of topics that arise in day-to-day corporate practice. From drafting documents and conducting research to managing and reviewing outside counsel work, they need to ensure the consistent, on-time delivery of superior work that satisfies the company’s goals.
Bloomberg Law® offers an all-inclusive platform with everything in-house counsel need to work more efficiently and keep work in-house. Our platform combines the latest in legal technology with workflow tools, comprehensive primary and secondary sources, trusted news, expert analysis, and business intelligence to help improve attorney productivity and efficiency.
Based on our latest customer satisfaction survey, here are the top 10 reasons in-house counsel rely on Bloomberg Law to support their legal departments.
1. One-Stop Shop; Predictable Pricing
In a recent Customer ROI Survey, 94% of General Counsel customers agree that Bloomberg Law has all the legal research tools, resources, and content their legal departments need on one integrated platform. With Bloomberg Law, you can search all our content for as long and as often as you wish without incurring additional charges. No paywalls or out-of-plan charges.
Following my joining the company as General Counsel, I began exploring ways to reduce reliance and spend on outside counsel. After in-person discussions with representatives of Bloomberg Law, including demonstrations of its scope and capabilities, I took out a single subscription to personally explore its many features and benefits. By the end of that year, I was convinced that this was a very useful and valuable tool, both for remaining current on changes in the law and for legal research as well as for its numerous practice area materials. I got subscriptions for my entire team of lawyers at a very economical price, and we've been very successful in reducing reliance and spend on outside counsel as a result.
2. Practical Guidance
With more than 7,500 Practical Guidance documents, including an extensive collection forms, checklists, overviews, and professional perspectives, Bloomberg law offers the legal expertise and how-to guidance that allows your team to manage assignments and unfamiliar issues productively and confidently.
Bloomberg Law’s Practical Guidance helps us complete work with efficiency, accuracy, and confidence. It significantly reduces the amount of time it takes us to complete legal work in-house and thus reduces our annual spend on outside counsel. It provides us with an idea of what is 'standard' or typical and it gives us a better starting point to work on contracts, agreements, and clauses.
3. Case Law Research
Bloomberg Law offers more than 14m state and federal court opinions with BCite, our proprietary citator, and Smart Code, a virtual annotated code for state and federal codes, rules, and regulations with a strength-of-discussion indicator. Additionally, our award-winning Points of Law, a machine learning algorithm, helps attorneys easily and efficiently identify the most authoritative, on-point case law supporting a particular legal principle.
The case law search tools on Bloomberg Law are extremely valuable to us. I appreciate the ability to conduct broad searches and quickly refine the results into a list of a few most relevant hits.
4. Intuitive & Easy to Use
Bloomberg Law is committed to getting you to the content you need in less time and with fewer clicks. Over the past year, subscribers have benefited greatly from the release of the enhanced navigation menu that appears at the top of the homepage and as a regular feature on most landing pages. Additionally, recent contextual search enhancements anticipate your search needs and surface the most relevant results.
Having transitioned from Westlaw to Bloomberg Law, I can say that Bloomberg Law combines the ease and effectiveness of Bloomberg's search capabilities, as well as valuable commentary, tools and resources that make the platform best in class.
5. Practitioner & Workflow Tools
Bloomberg Law offers time-saving practitioner and workflow tools such as:
- State Chart Builders, provide quick comparisons of thousands of topical issues across multiple jurisdictions
- Legislative and regulatory Trackers with alerting and filtering functionality, keeping you ahead of the latest changes affecting key practice areas at the Federal and State level
- EDGAR Search, enables you to quickly access relevant SEC filings, and be alerted to new filings of interest
- Draft Analyzer, uses machine learning and natural language processing to quickly benchmark your language against language from the millions of agreements in the SEC’s EDGAR database – giving you a leg up in negotiations
- Practice area Fast Answers, providing succinct answers to critical questions and a gateway to deeper coverage
Draft Analyzer consistently provides me with usable templates and helps me understand the market when negotiating terms in my agreements.
6. Secondary Content
Bloomberg Law Guides and Manuals, available only on Bloomberg Law, bring a tradition of excellence to our offering of secondary content, along side an extensive collection of proprietary and licensed treatises organized by practice area in our reference library.
The scope of resources that Bloomberg Law makes available to me as a General Counsel at a rapidly-growing manufacturing company enables me to fill a number of roles. Because I am a relative novice in many fields of legal specialization, the availability of both primary legislative and judicial source materials, and materials prepared by experienced practitioners enables me to 'punch above my weight' in many of those fields. This helps my company avoid hiring expensive outside counsel for low-level or 'introductory' issues in fields beyond my primary fields of legal and technical expertise.
7. Bloomberg Law News
Bloomberg Law News covers the legal and business landscape with more than 40 news channels that can be customized to your needs. News coverage also includes ALM Media News brands such as The American Lawyer and New York Law Journal, and access to 75k news sources from the Bloomberg Terminal, with alerting functionality.
Keeping up with all the legal changes around the U.S. would have taken significant time and money if I hadn’t had access to Bloomberg Law. The alerts I received helped me keep track of trends and developments and the search tools helped me find the laws and regulations I was looking for.
Our market-leading dockets product includes more than 1,100 state courts and comprehensive federal courts coverage. Easily monitor new filings and never miss critical updates with alerts delivered right to your inbox. AI-powered Docket Key search functionality eliminates the time and challenges it takes to find exemplar forms like briefs and complaints in federal district court (20 filing types in all). Recently added, AI enabled Damages Awards Search and Docket Resolution functionality makes it simple to quickly identify cases by desired outcome.
I really enjoy the docket alerts. I set alerts for all group companies as well as competitors and those in similar industries. This allows me to get a jump on planning a defense before we are even served and allows me to track trends in litigation across our industry.
10. Practice Area Coverage
Intuitively organized practice area coverage in 14 practice centers provides everything your department needs from primary sources to dockets, news, treatises, practice tools, and Practical Guidance. Similarly, our intelligence centers for Business, Litigation, and Transactional offer organizational efficiency and exceptional content such as:
- Bloomberg’s renowned business and financial information
- Precedent Search Database with more than 2.1m negotiated documents, and
- State Resources Pages
Having such a robust tool like Bloomberg Law in-house that covers a vast array of material valuable to our legal department is key. Being able to get to the information we need at our fingertips, without having to outsource the work, is invaluable both from a cost analysis perspective as well as an efficiency tool builder.