September 20, 2023

Arbitration vs. Litigation: Making the Right Choice

Summary: What is Arbitration? Is Arbitration Better than Litigation? Why Choose Litigation Over Arbitration? Other Factors That Influence the Path to Arbitration vs. Litigation What is a Disadvantage of Arbitration? Differences Between Arbitration and Litigation Choosing the Right Path for Your Firm Attorneys often face critical decisions that can significantly impact their clients' cases and...

September 13, 2023

Six Budget-Friendly Marketing Ideas for the Small Law Firm

This post was originally published in October 2018 and verified in September 2023. So, you’re a skilled lawyer working for a small (or solo) law firm - though it may be tempting to assume your reputation or skill alone is enough to attract a strong client base, don’t be fooled. As with any business, a good marketing strategy is paramount to success. Though small firms may not have the luxury of dedicated...

September 12, 2023

Small Law Firm Budget: Tips for Managing Finances Effectively

As a solo or small firm attorney, managing your law firm's budget is a crucial aspect of running a successful practice. Staying financially sound allows you to focus on serving your clients without the added stress of financial concerns. In this article, we'll explore essential tips to help you effectively manage your small law firm budget. Setting Clear Financial Goals To start, you need to establish clear...

August 31, 2023

Top 8 Legal Areas Impacted by Generative AI: Where In-House Legal Teams Need to Focus

In-house counsel across all industries have indicated that they are prepared for the emergence of artificial intelligence (AI) tools and applications within the legal profession. A recent survey by LexisNexis found that more than two-thirds (67%) of in-house lawyers expect the law firms they work with will use cutting-edge technology, including generative AI, and 58% indicated that they expect their outside counsel to...

August 29, 2023

State Regulation of AI in the Spotlight at 2023 NCSL Legislative Summit

More than 5,000 lawmakers and public policy professionals arrived from every state in the U.S. to attend the 48th annual National Conference of State Legislatures' (NCSL) Legislative Summit, Aug. 14-16, 2023, at the Indiana Convention Center. The NCSL Legislative Summit is the nation’s largest gathering of state lawmakers and legislative staff, providing a platform for legislators, staff and other public policy...

August 29, 2023

Building the Future of Legal AI on a Strong Foundation

By Jeremiah jenkins Legaltech News published an insightful feature on July 24, 2023, tracking the events leading up to the explosion of conversation this year about the potential impact of AI on the legal industry. “In late-2022, commercially available generative artificial intelligence tools saw an exponential increase in sophistication and ability, taking the legal world by storm,” reported LTN . “As...

August 23, 2023

How Generative AI is Disrupting Law Firm Billing Practices

Summary Alternative Fee Arrangements Enhanced Productivity with Generative AI Challenges and Ethical Considerations Preparing for the Future Legal Industry with Lexis+ AI In the ever-evolving landscape of the legal profession, one aspect has remained constant: the importance of billing practices . Law firms, irrespective of their size or specialization, rely on billing methods to: Quantify their services...

August 22, 2023

Billable Hours: A Small Law Firm's Guide to Maximizing Time and Profits

Summary What are Billable Hours? How to Calculate Billable Hours Time Management Strategies for Small Law Attorneys Emerging Trends Maximize Billable Hours with Lexis+ Billable hours are the lifeblood of a small law firm – and mastering the art and science of defining, navigating, and balancing them alongside the other functions of your role is crucial for your success. However, in between managing...

August 17, 2023

Legal Tech ROI: The Stats are In for Small to Midsize Law Firms Making a Big Purchase

Summary: Study Methodology Saving Money with Legal Technology More Benefits to Legal Tech Saving Money with LexisNexis In today’s fast-paced legal landscape, purchasing the right legal research technology is critical – especially for solo and small to midsize law firms who have the opportunity to reap benefits that help them outpace larger competition . For example, Lexis+ ® boasts benefits...

July 28, 2023

Navigating Data Privacy Regulations in the Insurance Industry

There has been a push for increased transparency and regulation in the insurance industry regarding consumer data privacy. With an increase in consumer data collection, the threat of ransomware attacks can open your company up to potential litigation or regulatory action if not handled properly. Introduction of Model #674 On February 1, 2023, the National Association of Insurance Commissioners (NAIC) released Insurance...

July 21, 2023

AI Tools for Legal Research: Lessons Learned from a Federal Case

By Megan Bramhall The New York Times broke a story over Memorial Day weekend that many of us working in the legal technology industry knew was inevitable. A lawyer had used ChatGPT to assist him with some legal research, copied and pasted the case citations surfaced by the AI chatbot into a brief prepared for a client, and filed that brief in New York federal court. The problem? He never checked those cites and they...

July 19, 2023

Height and Weight Discrimination Laws on the Rise: Implications for In-House Counsel

By Elias Kahn | LexisNexis Practical Guidance New York City became the largest city in the nation to ban discrimination on the basis of height or weight when it comes to employment decisions under a bill signed by Mayor Eric Adams in May 2023. “We all deserve the same access to employment, housing and public accommodation, regardless of our appearance,” said Mayor Adams. “It shouldn’t matter...

July 07, 2023

Navigate the Impact of Generative AI on Your In-House Counsel Team

Many in-house counsel envision a future in which the practice of law is improved by the use of generative Artificial Intelligence (AI) tools. Generative AI & the Legal Profession Study & Methodology A groundbreaking nationwide survey conducted by LexisNexis® revealed some important insights regarding how the emergence of generative AI technology is impacting the legal profession. We surveyed 4,180 people...

June 20, 2023

How Secure AI Tools Can Assist Corporate Compliance Professionals

The emergence of new Artificial Intelligence (AI) tools is shaking up the global corporate marketplace for AI’s extraordinary business potential—as well as its immediate dangers. Perhaps no audience of corporate executives is more focused on getting their arms around the risks and rewards of the deployment of this technology than corporate compliance professionals. AI-powered solutions offer the promises...

June 13, 2023

More Law Firms Taking Cautious Approach to Use of Generative AI Tools

By Geoffrey Ivnik There is widespread excitement over the potential of emerging generative Artificial Intelligence (AI) tools, such as ChatGPT, to drive new workflows that super-charge human productivity — and the legal industry is no exception. But a recent column by Paul Daly in Administrative Law Matters , “ChatGPT and Legal Research: A Cautionary Tale,” illustrates why many law firms are taking...

June 08, 2023

How to Write Winning Legal Briefs With Judicial Analytics

Write a Winning Brief: Why It’s Important How to Write a Winning Legal Brief The Importance of Judicial Analytics Start Winning with Legal Briefs First impressions matter — that's why writing a powerful legal brief is critical when building a winning case. Defined as a written document in which you present your arguments to the court, a legal brief ultimately serves one of two purposes: ...

June 06, 2023

Combining Extractive and Generative AI for New Possibilities

By Jake Nelson | Product Manager Much has been written already about the potential impact of generative Artificial Intelligence (AI) tools on the legal industry. The New York Times reports that it will “change the practice of law” and a Brookings Institution white paper predicts it will “revolutionize the practice of law” by improving the efficiency of attorneys. But let’s pause for a...

June 02, 2023

Top 5 Benefits Lawyers Expect from Generative AI, According to New LexisNexis Survey

By Steve Carroll | VP of Customer Insights We recently published an article in this space highlighting some of the results of a groundbreaking survey conducted by LexisNexis regarding how generative Artificial Intelligence (AI) tools, such as ChatGPT, are impacting the legal profession in these early days of their commercial availability. In the first post, we shared our findings from talking to consumers nationwide...

May 22, 2023

Generative AI for Lawyers: What It Is, How It Works, and Using It for Maximum Impact

What is Generative AI? Uses of Generative AI for Lawyers and Law Firms What to Look for When Selecting a Generative AI Tool Learn More about Generative AI Technology In late November 2022, the release of ChatGPT, a powerful generative artificial intelligence (AI) tool , sparked a global revolution, with the legal industry also experiencing its profound effects. In fact, the legal ind ustry has since report...

May 16, 2023

The Power of Artificial Intelligence in Legal Research

Summary: What is Artificial Intelligence Artificial Intelligence in Law Lexis+ ® Context ® Lexis+ AI™ Resources and Information Try AI-Powered Legal Research Technology This article was updated on May 16, 2023. In 2019, the ABA Legal Technology Survey reported that only 8% of respondents were using resources with artificial intelligence (AI). In a few short years, however, AI has...

May 11, 2023

Generative AI and the Law

By Suzanne McGee AI is here already -- with the power to change the legal profession The artificial intelligence tool ChatGPT has taken the world by storm since its November 2022 launch. But in many sectors of the economy, this was simply generative AI’s public debut. In the legal world, for example, law firms and others have been examining AI’s potential for a long time – putting it to practical...

May 11, 2023

Cannabis in the Workplace and Employment Law Considerations

By Julie Webster-Matthews U.S. history is full of examples of conflicts between federal and state laws when it comes to controversial issues, but one of the more intriguing areas where this conflict is playing out in real-time is with the regulation of cannabis. Under the Controlled Substances Act in Title 21 of the U.S. Code, marijuana remains a “Schedule 1” drug — alongside narcotics such as heroin...

May 04, 2023

Media Reacts to Lexis+ AI Launch

At LexisNexis, we envision a world where AI and the applications it powers will enable our customers to achieve better outcomes and ultimately advance the rule of law around the globe. That's why we launched Lexis+ AI, and the legal industry is taking notice. Check out these stories in the media marking the launch: The Wall Street Journal: End of the Billable Hour? Law Firms Get On Board With Artificial Intelligence...

May 04, 2023

New Survey Identifies How Consumers Would Be Willing to Use Generative AI to Address Legal Needs

By Steve Carroll If it feels to you like generative Artificial Intelligence (AI) tools have gone from a sci-fi idea to a transformational tech in a matter of months, it’s because they have. ChatGPT was launched as a prototype on November 20, 2022, and within a matter of a few months it has touched off a flurry of excitement, astonishment, investment and fear. We wanted to be on the front end of this conversation...

April 27, 2023

Revisiting eDiscovery Fundamentals

By Angela Chmielewski The process of electronic discovery is more than a crucial element of modern litigation, it is an enormous business and area of legal practice unto itself. The eDiscovery market was estimated at $11.2 billion last year — and is expected to be a $17 Billion business by 2027 — and many of the nation’s largest law firms have formed distinct eDiscovery Practice Groups that employ...