Legal Publishers in 2007 and Beyond - March 2007 - Ron Friedmann - Prism Legal Consulting

8/15/2019 Legal Publishers in 2007 and Beyond - March 2007 - Ron Friedmann - Prism Legal Consulting

1/35


2/35


3/35

Rons Background

Legal technology consultant (4 years)CIO, Mintz Levin (1)Practice support, Wilmer (8)Legal software marketing

Jnana interactive legal advisory systems (3)iLumin online signing dot-com (0.5)

Strategy consulting, Bain & Co (3)Econometrician, Data Resources, Inc. (4)Education

JD, NYU (1986)BA, Economics, Oberlin College (1979)


4/35

Business Context

Publisher Penetration in Law Firms


5/35

Content Provider Value Added

CreatePrimary

Plain

Enhanced (e.g., compilations, headnotes)Secondary, interpretive, or analytic

Editors External authorities

DeliverPrint, search, e-mail, RSS


6/35

Moving Beyond Content

Content market is limitedPublishers expand penetration via organicgrowth, acquisition, partnership

Thomson Elite, Hildebrandt, Expert Ease, Hubbard One,ProLaw, LiveNote, West KM, Monitor

Lexis-Nexis Applied Discovery, Interface, Time Matters, Datops,

HotDocs, Martindale-Hubbell, Hosting, NetDocsWolters Kluwer

Summation, TyMetrix


7/35

Publisher Penetration by Task

Source: Concept Overview

Law Practice0

100%

Research

Write

Process

% o

f T i m e

b y

T a s

k

Identify

Save

Low penetration

High penetration


8/35

Law Business

Information Intensive Aspects Only (Excludes Operations)

Matter intakeMarketing (including web sites)Business developmentCompetitive intelligenceFinancial accountingHR managementPlanningPractice group management


9/35

Publisher Penetration by Task

Source: Concept Overview

0

100%

% o

f T i m e b y

T a s

k

InfoIntensive

Not InfoIntensive

Low penetration

Some penetration

Law Business


10/35

Business Context Conclusions

Content penetration inherentlylimited hence expansionContent publishing must evolveCross-selling and integration?

TechnologyBusiness


11/35

Content Delivery

Impact of New Technology


12/35

Technology Affecting Delivery

PortalsTaxonomiesSearchRSSMobility


13/35

New Delivery Paradigm

Past: visit many sources for contentPresent: content delivered to users

In more places

Via multiple formatsWith greater personalization


14/35

Customized Delivery

Taxonomies give matters andinformation meaningPortals aggregate multiple sources

Newsreaders and RSS support analternate delivery approachSmart search eases finding info


15/35


16/35

Delivery Business Issues

Who purchases?Past: Librarians called all the shotsPresent: CIOS, knowledge managers,

and lawyers are influencers, if notbuyers

Pricing and licensing

Placing bets on technologyFocus on content or on technology?


17/35

Best Focus is on Content

Law firms want deliveryVia various technologiesOn flexible license terms

With tagging that adds meaningLaw firms want

Content from multiple publishers

Software from tech companies


18/35

Law Firm Quotes

On TechnologyOn Aggregating Publisher Content

OMITTED IN THIS VERSION


19/35

Delivery Tech Wildcards

BlogsPodcastsWikis and collaborative softwareSocial tagging / social networkingXML


20/35

Blogs

Impact is more on content creationthan consumption or delivery

More on content creation later

Reading many blogs impracticalAggregation via RSS is probablybiggest impact


21/35

Podcasts (audio and video)

Limited traction so farMore about creation than deliveryPotential to expand reach of text byconversion to audio or video


22/35

Wikis and Collaboration

Limited traction to dateLawyers wed to e-mailBut Allen & Overy uses wikis

Impact of broader useAnother content container populatedmanually or automatically

Potential for content creation


23/35

Social Tagging and Networking

Not yet common in legalOnly a few lawyers need to tagcontent to create new value

Internal contentExternal content

No MySpace for lawyers - yet


24/35

XML

Office 2007 built on XMLPotential to tag document partsEntity extraction engines emergingMakes content easier to re-usePotential to integrate with clients

Transactions and legal updatesImpact on both creation and delivery


25/35

Content Creation

Impact of new technology


26/35

Threat?

New tech > new content providers?Wither the role of the comprehensive,integral, and context-rich sources?

If so, substitution or net growth?


27/35

Technology Affecting Creation

BlogsRSSPodcastsXMLLower cost web technologies


28/35


29/35

Large Firm Blogs (Branded)

Firm # BlogsSheppard Mullin 9Womble Carlyle 8Davis Wright 4Fox Rothschild 3Holland & Hart 2Bracewell Giuliani 1K&L Gates 1Porter Wright 1Sutherland Asbill 1

Total 30
http://www.prismlegal.com/index.php?option=content&task=view&id=118&Itemid=73http://www.prismlegal.com/index.php?option=content&task=view&id=118&Itemid=73


30/35

Large Firm RSS Feeds (# feeds)

Duane Morris (10)Fulbright (1)Jones Day (30+)White & Case (20+)WilmerHale (20+)


31/35

Example of Feeds


32/35

Other Legal Self-Publishing

Niche web sitesFood packaging by Keller & HeckmanAED Risk Insights

Niche blogs (not firm branded)Drug and Device Law (Dechert counsel + Jones Daypartner)

Silicon Valley Media Law (Wilson Sonsini partner)Suits in the Workplace (2 McGuire Woods partners)

Torys video Podcast center
http://www.packaginglaw.com/http://www.aedriskinsights.com/http://druganddevicelaw.blogspot.com/http://www.svmedialaw.com/http://suitsintheworkplace.com/blogs/http://www.torys.com/video/http://www.torys.com/video/http://www.torys.com/video/http://www.torys.com/video/http://suitsintheworkplace.com/blogs/http://www.svmedialaw.com/http://druganddevicelaw.blogspot.com/http://www.aedriskinsights.com/http://www.packaginglaw.com/


33/35

Primary Sources as Publishers?

Web makes publishing easyAgencies, courts already have sitesMore functionality (e.g., new NASD

manual)XML allows adding value

SEC enhances EDGAR with XBRML

TaggingIf content provider use tags and enableRSS, less need for intermediaries


34/35

Other New Content Providers

Lower costFastCase for case law and statutes

InnovativeRealPractice Public Access (to EDGAR)

Precydent (new search engine for fed cases)Expert systems

Mavent mortgage complianceCollaborative

Blogging and Other Social Media: Technology(law book being written via wiki)

Legal Week Wiki (UK, info about large firms)
https://www.fastcase.com/Corporate/Home.aspxhttp://www.practicetechnologies.com/products/realpracticepublicaccess.htmlhttp://www.precydent.com/precydent_search/sv1.dohttp://www.mavent.com/http://humanlaw.pbwiki.com/http://www.legalweek.com/Articles/List.aspx?sArticleTypeIDs=15&liNavigationItemID=36&bAZSearch=truehttp://www.legalweek.com/Articles/List.aspx?sArticleTypeIDs=15&liNavigationItemID=36&bAZSearch=truehttp://www.legalweek.com/Articles/List.aspx?sArticleTypeIDs=15&liNavigationItemID=36&bAZSearch=truehttp://humanlaw.pbwiki.com/http://www.mavent.com/http://www.mavent.com/http://www.precydent.com/precydent_search/sv1.dohttp://www.practicetechnologies.com/products/realpracticepublicaccess.htmlhttps://www.fastcase.com/Corporate/Home.aspx


35/35

Opportunities

Gain share or sustain pricing via highervalue deliveryFlexible deliveryInfer more from individual use-pattern

Sell smaller chunks but avoid cannibalizationBecome community for legal niches

Co-opt, dont fight individual producers?Aggregate and distribute

Maximize value of human resourcesMore analysis

Ask the editor service

Documents

Legal Publishers in 2007 and Beyond - March 2007 - Ron Friedmann - Prism Legal Consulting