Tuesday, October 18, 2016

BloombergBNA Launches Litigation Analytics; Should Lex Machina Be Worried?




Today Bloomberg announced the launch of a new analytics product that transforms data on more than 3 .5 million companies, 7,000 law firms and all active federal judges into actionable insights. The product is positioned as strategic planning tool for litigators by analyzing   past patterns of judges behavior such as motion grants/denials and time to trial.

Coverage:*
  • Motion Outcomes and Appeals Outcomes include the full time period that a judge has been on the bench.
  • Length of Time and Appearance/Case Types are docket based analytics covering back to 2007.
  • Company search and Law Firm search are docket based analytics covering cases back to 2007. 


Here are some sample reports:



Law Firm  Appearances by Case Type



Average Time to Trial

Motion Outcomes



 The Competition. From it's earliest days in the legal market Bloomberg Law has offered a topnotch docket tool and that docket tool provides the raw data which Bloomberg feeds into their analytics engine.There are  several products which offer judicial analytics including Ravel Law and PacerPro and Lex Machina . Lex Machina is the product which can be most closely compared to Bloomberg Law's new offering. Lex Machina came into the market with a product focused on IP litigation. The rationale for Lex Machina's acquisition by Lexis Nexis was the opportunity to expand the Lex Machina offerings by loading the Lexis archive of docket data. In July, they launched a securities litigation product.  I have not yet had a demo of the Bloomberg Law Litigation Analytics product so I can't compare how their interactive features and reports compare with Lex Machina's.


Bloomberg Advantages. The one obvious advantage that Bloomberg will have out of the gate - is that they appear to be offering analytics on all types of federal litigation. Lex Machina intends to expand their coverage beyond IP and securities over the coming year - but for now Bloomberg Law appears to be the only product  offering the insights into practice areas such as labor law, contract disputes and civil rights which are not yet covered by Lex Machina.


A second advantage is that in keeping with Bloomberg Law "all in" contract approach, every Bloomberg Law subscriber automatically gets access to all new content and features. Lex Machina is not integrated into Lexis and must be purchased under a separate license. Thomson Reuters also offers litigation analytics on a separate platform the Intelligence Center, which cannot be accessed from Westlaw and which requires a separate subscription.


In this hyper-competitive legal market, building products such as Litigation Analytics which feed law firms insatiable  appetite for competitive insights is smart marketing strategy.

* Correction of original post regarding coverage dates.
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Here is the press release:
New Bloomberg Law Litigation Analytics Solution
Provides Insights into Judicial Behavior

hdfcInnovative Resource Helps to Shape Litigation Strategy,
Drive Business Development Efforts
 Arlington, VA. (October 18, 2016)— Imagine if attorneys could counsel their clients on how long judges typically take to resolve cases, how they rule on dispositive motions, and how often they are overturned on appeal. Insight to those important questions, along with a host of other predictive analytics invaluable to trial lawyers, litigation managers and business-generating rainmakers, are now available on Bloomberg Law.
 Today, Bloomberg Law announced the launch of Litigation Analytics, which draws on both comprehensive court opinions (both published and unpublished) and docket information in Bloomberg Law’s vast databases to help inform litigation strategies and understand potential impacts of judges and courts, revealing insights like:
 Judge Jack Weinstein in the Eastern District of New York has been almost four times more likely to deny a motion to dismiss in full than Judge Jesse Furman in the Southern District of New York.  The disparity is particularly noticeable when it comes to corporate law cases, where Judge Weinstein has been five times more likely to deny a motion to dismiss in full.  
Judge Leonard Stark in the District of Delaware had – to an extraordinary degree – the busiest bench of the judges we sampled over the past five years: the top three firms appearing before him appeared a total of 1050 times.
 “Bloomberg Law Litigation Analytics allows attorneys to devise informed litigation strategies and anticipate outcomes to a degree we could simply not approach before,” said Cassandra Collins, partner in the Business Litigation practice at Hunton & Williams LLP. “The depth of intelligence that can be gleaned from this product is going to make it a go-to resource not only for litigators, but also law firm business developers, marketers, and law librarians.”
                                                                                                                                          
With the introduction of Litigation Analytics, Bloomberg Law becomes the first and only full-service legal research and business intelligence platform to include this type of solution, together with access to a comprehensive case law and dockets collection. In addition to providing insights about federal judges, Litigation Analytics includes extensive information on the litigation activities of companies (more than 70,000 public and 3.5 million private companies), as well as the law firms that represent them.
 This universe of data allows law firms and corporations to make more informed decisions on critical strategic issues such as where to file or remove a case, whether or not to settle, whether or not to pursue an action in the first place, and even which law firm to retain or consider—all of which are likely to be influenced by the success rate of cases before particular judges and the length of time that judges take to make decisions.

Corporate legal departments and law firms will also find Litigation Analytics instrumental in gaining intelligence on their competitors and industry peers, as well as each other. Thus, a general counsel can instantly discover how many product liability cases a specific law firm has litigated in California to determine which law firm might best represent a company, while a partner can find out which firms a client prospect is using for environmental cases in New York.

“Our mission at Bloomberg Law is to create technology that enhances our clients’ legal practices, and there’s no better example of that mission in action than this new solution,” said David Perla, President of Bloomberg Law and Bloomberg BNA Legal, who called Litigation Analytics the most comprehensive product of its kind. “Unlike other analytical tools on the market, Litigation Analytics covers all federal district courts and case types, all practice areas, leverages both case law and dockets, and is available without additional cost to existing Bloomberg Law subscribers.”

For more information on the valuable insights Bloomberg Law Litigation Analytics can provide, please view a Technology Snapshot at http://www.bna.com/litigationsnapshot.

To learn more about Bloomberg Law Litigation Analytics, register at http://about.bna.com/litigation-analytics for a product overview webinar on Tuesday, November 1.

About Bloomberg BNA
Bloomberg BNA provides legal, tax and compliance professionals with critical information, practical guidance and workflow solutions. We leverage leading technology and a global network of experts to deliver a unique combination of news and authoritative analysis, comprehensive research solutions, innovative practice tools, and proprietary business data and analytics. Bloomberg BNA is wholly-owned by Bloomberg L.P., the global business, financial information and news leader. For more information, visit www.bna.com.

About Bloomberg Law
Bloomberg Law helps legal professionals provide world-class counsel with access to actionable legal intelligence in a business context. Bloomberg Law delivers a unique combination of practical guidance, comprehensive primary and secondary source material, trusted content from Bloomberg BNA, news, time-saving practice tools, market data and business intelligence. For more information, visit www.bna.com/bloomberglaw.

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