3. Support a productive and efficient team
To differentiate a firm, its attorneys need to be able to practice and advise clients immediately, without losing time on training, research, and administrative tasks. Both imperatives call for greater operating efficiency, without overworking attorneys and risking burnout.
An attorney’s efficiency, productivity, and profitability are directly tied to being able to access resources that guide and inform them and make the whole process look effortless with their clients.
The ability to easily and cost-effectively access expert guidance across multiple disciplines and for varying levels of legal sophistication has never been more important. The manner, method, and solution with which you obtain this critical content can have an undeniable impact on a firm’s bottom line.
Legal guidance and support every step of the way
Bloomberg Law’s Practical Guidance is how-to content authored by expert attorneys, enabling users to understand a task, manage it from beginning to end, and advise quickly. It serves the needs of every level of practitioner, from the new associate getting up to speed to the seasoned practitioner expanding into new areas of practice or supervising a work team.
Practical Guidance offerings are integrated with all other aspects of Bloomberg Law, such as Chart Builders, Precedent Database of documents and clauses, news, laws and regulations, and analytics.
The array of practitioner tools includes analytic applications, Chart Builders, and Practical Guidance – overviews, checklists, sample forms and agreements, timelines, drafting and negotiating guides, and more – tailored to a wide range of practice areas.
The materials are consistent in format and organization across practice areas, with enhanced search functionality for easy access and rapid research. With these resources, firms can ensure that everybody is following consistent best practices – a key ingredient in service differentiation.
Improve efficiency in transactional law
Draft Analyzer is Bloomberg Law’s proprietary tool that uses AI to improve the process of drafting, reviewing, and negotiating merger agreements by:
- Speeding up document navigation and review
- Comparing your text to market-standard language
- Delivering practice tools and relevant expert guidance at the attorney’s point of need
Draft Analyzer uses an algorithm to identify the developing consensus among drafters based on its analysis of each paragraph from virtually every agreement and organizational document filed as an EDGAR exhibit. Our system first categorizes each paragraph based on textual similarity and constructs one or more unified versions (“composites”) for each identified cluster of similarly worded paragraphs. A composite reflects the common language in each cluster’s underlying paragraphs.