Post on 13-Feb-2017
The New Legal Tech - a Global Phenomenon
David Curle
Director, Market Intelligence
Thomson Reuters Legal
ELTA Legal Tech & Innovation Meetup
Berlin, 19 October 2016
REUTERS / Firstname Lastname
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A few words about
Thomson Reuters
3 Thomson Reuters
Global Presence
Top 10 locations ranked
by number of employees
1. Eagan
2. Bangalore
3. New York
4. London
5. Carrollton
6. Beijing
7. Hyderabad
8. Gdynia
9. Bangkok
10. Manila
We have operated in more than 100 countries for 100 years
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4 Thomson Reuters
Financial and Business Model Overview
• Proprietary databases and deeply embedded
workflow tools and analytics
• 87% of our 2015 revenues were recurring
• 93% of revenues were from information delivered
electronically, software and services
• No single customer accounted for more than
1.5% of 2015 revenues
• #1 or #2 in market share in most of the business
segments we serve
63%
27%
10%
2015 Revenue by Region
Americas Europe, Middle East and Africa (EMEA) Asia Pacific
Our Businesses: Legal
Thomson Reuters 5
Customers Key Products
Large and Medium Law Firms:
• Lawyers
• Law librarians
• CMOs, CTOs, CIOs (and staff)
• Paralegals and other legal professionals
• Westlaw
• Practical Law
• Legal Managed Services
• ProView and print titles
• Aranzadi, Aranzadi Fusión
and Lawtel: Europe
• La Ley, Legal One and
Revista dos Tribunais:
Latin America
• Practice Point
• Elite 3E, Mattersphere
• eDiscovery Point
• Business Development Premier
• Monitor Suite and Peer Monitor
Small Law Firms:
• Lawyers
• Law firm management professionals
• Paralegals and other legal professionals
• Firm Central
• FindLaw
• ProLaw
• Practice Point
• eDiscovery Point
Corporate Segment:
• General Counsel
• Corporate legal professionals – investigators,
risk, compliance, security
• Practice Point
• eDiscovery Point
• Legal Tracker
• CLEAR
Government:
• Government agencies
• National, state and local courts
• Law enforcement
• CLEAR
• PeopleMap
• C-Track
• Legal Tracker
• Drafting Assistant
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Why now?
Why here?
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Law is
Important
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Tech is Fun
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Legal Education Business Development / Marketplaces E-discovery
Practice Management Legal Research Case Mgmt /Analytics
Consumer Online Dispute Resolution
Legal
Tech
Startup
Landscape
Document Automation Contract Management / Analysis
Litigation Funding
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Law School and Academic
Professional Associations
Informal and Meetups
Open Legal Data
Startup and Innovation Hubs
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Legal Tech is
Fragmented
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Applications
Practice
management
Litigation
analytics
Document
automation
Legal
marketplaces
eDiscovery Online disupte
resolution
Legal
research
Contract review
and analysis
Litigation
Funding
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Markets
Law schools
Government
In-house legal
departments
Courts
Consumer Law firms
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Technologies
Visualization
Big data
analytics
Cloud
Expert systems
Blockchain Natural
language
processing
Social media
and
crowdsourcing
Machine
learning
Geographies
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Legal Tech
Challenges
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Legal is
Jurisdiction-Specific
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Legal is
Not That Big
Global legal spend
~$700 Billion
Walmart
~$482 Billion
Global Pharma Sales
~$1,300 Billion
US Construction
Industry
~$1,700 Billion
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Legal is
Full of Latent Markets
But there is a reason they are latent:
NO MONEY.
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Legal is
Highly Regulated
Some places more than others
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Legal is
Resistant to Change
http://audiencestack.com/static/blog.html
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We Need
Everybody Law students
Academics
Legal
operations
managers
Developers
Legal
Practitioners Entrepreneurs Academics
Marketers
Process
engineers
Academics
Data scientists
and analysts
Funders
Design
engineers
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Take the Message
Beyond This Room