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By Meg Vernal and Caroline Yoon
In-house legal departments are reporting an increase in corporate transactions as the global economy rebounds from the pandemic-induced reduction in M&A activity,...
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Transactional lawyers spend a significant amount of their time advocating for, negotiating and structuring deals on behalf of their clients. By relying on artificial intelligence and technology resources, the time required for performing due diligence, background research and other tasks can be streamlined while improving transaction outcomes—and enabling increased interaction with clients and greater focus on higher-level business and legal strategies.
As a platform that offers lawyers a range of powerful legal research resources, Lexis+™ builds on the foundation of the Lexis® service, offering new capabilities that drive better insights.
1. Practical Guidance: Lexis+ incorporates enhanced practical guidance, similar to what you’ll find in the Lexis Practical Guidance service. The Practical Guidance within Lexis+ is organized by practice area, content type, jurisdiction, industry and tools & resources, allowing users to quickly start and finish any legal matter by simplifying routine tasks and enabling lawyers to draft more effective documents in less time. The Practical Guidance feature offers template forms that lawyers can complete to easily build a document, along with helpful checklists to aid in task completion. Lexis+ also offers curated content sets to keep users apprised of the latest developments pertinent to their practices.
2. Search Term Maps: This feature is a more robust version of the one offered through the Lexis service. Lexis+ offers search capabilities for more than 30 content types and makes it easy to identify relevant passages. The Search Term Maps feature can be used for cases, news, statutes and legislation, administrative codes and regulations, pleadings and motions, secondary materials, administrative materials and briefs. The tool will display the distribution and location of each search term in both the results list and within the full text of the document, making it easier for transactional lawyers to identify patterns and see the largest concentration of search terms within a single document.
3. Statutes Compare: The new Lexis+ platform saves lawyers time by eliminating the need to manually review and compare changes to state or federal statutes. The tool enables deal lawyers to quickly and accurately compare two versions of any state or federal statute with additions shown in green and deletions in red. By default, it will compare the most current version with the most recently archived version, but users can compare any two versions dating back nearly three decades.
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