October 01, 2024

With FTC Ban on Noncompetes Blocked, What Are Best Options for Employers?

By Elias Kahn | LexisNexis Practical Guidance Just as in-house counsel thought they were receiving some clarity around a vexing employment law topic, they were ushered right back into a murky legal landscape. On August 20, 2024, U.S. District Judge Ada Brown of the Northern District of Texas issued a nationwide injunction blocking the Federal Trade Commission (FTC)’s order that banned most noncompete agreements...

October 01, 2024

5 Legal Steps for Companies to Prepare for Workforce Reductions

By: Practical Guidance The Federal Reserve continues to pull its available levers in order to achieve a “soft landing” of the U.S. economy, but in the meantime a number of American employers have already taken action this year to reduce their payrolls. The Wall Street Journal chronicled the layoffs trend of 2024 in a recent story that identified more than 50 major American companies that have announced...

September 26, 2024

DMS Integration: The Key to Unlocking AI's Potential

By Madison Johnson, Esq. | Marketing Manager The trusty Document Management System (DMS) has been the backbone of law firm work product management for decades. Legal professionals should strap in for the next chapter in the evolution of this workhorse of the legal tech industry. How We Got Here DMS systems are designed to help an organization manage, organize and access their documents efficiently. A popular example...

September 19, 2024

What In-House Counsel Need to Know About the Chevron Doctrine Reversal

In-house counsel are still grappling with the fallout from the U.S. Supreme Court’s landmark decision this summer to overturn a longstanding interpretation of federal agencies’ ability to interpret law and issue regulatory guidance. In a 6-3 ruling, a majority of justices held in Loper Bright Enters. V. Raimondo that the high court’s test established in 1984’s Chevron v. Natural Resources Defense...

September 13, 2024

Transforming legal workflows with AI using Copilot for Microsoft 365

By: Srini Raghavan, Vice President, Microsoft 365 Ecosystem Ever since the introduction of Microsoft Copilot, AI is quickly being woven into the workplace and people's daily work habits. Three-quarters of global knowledge workers already use it, and more than 80% say AI helps them save time, focus on important work, and be more creative, according to the Microsoft 2024 Work Trend Index Annual Report . This presents...

September 12, 2024

Unlocking Personalized Legal Drafting with DMS Connectivity

By Madison Johnson, Esq. | Marketing Manager The current generation of commercial Generative Artificial Intelligence (Gen AI) tools have dazzled legal professionals with their capabilities for generating rough drafts of documents from scratch. But what they have quickly discovered to be missing are the reliability of accurate legal citations, personalized content that is unique to their law firm’s client experience...

August 29, 2024

Assessing the Accuracy and Quality of Answers from Your Legal AI Tool

By Simon Weierman Lawyers must rely on the accuracy and quality of their legal research when providing counsel to clients, drafting business agreements or writing legal documents for submission to the court. Inaccurate or non-responsive results from a search of legal databases can lead a lawyer down the wrong path, jeopardizing their legal strategy and credibility. Lawyers must rely on accurate legal research when...

August 28, 2024

5 Keys for Monitoring Antitrust Compliance: A Guide for In-House Counsel

U.S. District Judge Amit Mehta fired the latest shot in the recent acceleration of U.S. antitrust enforcement August 5 with a dramatic ruling that Google has violated federal antitrust law by monopolizing the market for internet search. “Google is a monopolist, and it has acted as one to maintain its monopoly,” wrote Judge Mehta, finding that Google violated Section 2 of the Sherman Antitrust Act. “Importantly...

August 14, 2024

IP and Gen AI Technologies: Essential Guidance for In-House Counsel

The proliferation of generative artificial intelligence (AI) technology has taken most of the oxygen out of the room in corporate offices. Virtually every major company has aggressively investigated how they can either develop Gen AI tools, implement Gen AI tools and/or protect themselves from the impact of commercially available Gen AI tools. For in-house counsel, the challenges are especially acute. Their organizations...

August 08, 2024

New Revenue Streams: Time to Start Law Firm Business Innovation

By Geoffrey D. Ivnik, Esq. | Director of Large Markets, LexisNexis Leaders of America’s largest law firms have decided to move full speed ahead with the adoption of generative artificial intelligence (Gen AI) technology because they see these tools as keys to unlocking greater value for clients and greater revenues for their firms. More than half of the Am Law 200 (53%) have purchased at least one Gen AI solution...

August 01, 2024

New Revenue Streams: Transform unprofitable practices into thriving businesses

By Geoffrey D. Ivnik, Esq. | Director of U.S. Large Markets, LexisNexis Law firm leaders perceive that generative artificial intelligence (Gen AI) technology is going to have a dramatic impact on how efficiently lawyers are able to complete work assignments for clients. The top priorities for law firms using AI-powered tech are all related to efficiency, according to the 2024 LexisNexis Investing in Legal Innovation...

August 01, 2024

Trust me I’m an AI: Winning lawyers will rethink the way they work

By Geoffrey D. Ivnik, Esq. | Director of U.S. Legal Markets, LexisNexis The transformative nature of Legal AI, generative artificial intelligence (Gen AI) technology trained for the legal profession, is destined to change the way that law firms work — but the firms who will see the greatest benefits from these tools will be the ones that are willing to develop new skills and new ways of thinking with their lawyers...

July 31, 2024

Climate Risk Management in Insurance: Trends and Takeaways

The insurance industry faces unprecedented challenges due to climate change. According to a report conducted by Ceres Accelerator for Sustainable Capital Markets , as extreme weather events become more frequent and severe, insurers must grapple with the impact on their investments, risk management strategies and overall business operations. The Highlights Of the 516 insurance groups who submitted responses, 94% of...

July 31, 2024

Buying Assets in Bankruptcy: 10 Essential Tips for In-House Counsel

Petersen Health, an Illinois-based company that operates nursing facilities in the Midwest, filed for Chapter 11 bankruptcy protection in March 2024. Within one month, the company had received 20 bids from potential buyers seeking to purchase various Petersen assets out of the bankruptcy proceedings and, on July 3, Law360® reported that U.S. Bankruptcy Judge Thomas Horgan granted permission for them to accept the...

July 25, 2024

New Revenue Streams: Getting the right skills in place is essential

By Geoffrey D. Ivnik, Esq. | Director of U.S. Legal Markets, LexisNexis The rising adoption of generative artificial intelligence (Gen AI) technology in the legal profession is having an impact on all areas of law firm operations, including staffing decisions. Nearly four in 10 (38%) of senior Am Law 200 lawyers say their firms are planning to hire technologists such as data scientists or engineers to support their...

July 25, 2024

Trust me I’m a legal AI: how to conduct a Gen AI pilot at your firm.

By Geoffrey D. Ivnik, Esq. | Director of Large Markets, LexisNexis The largest law firms are moving the fastest with investments in Gen AI tools. Our 2024 Investing in Legal Innovation Survey found that 43% of firms in the Am Law 200 have set aside a dedicated budget for Gen AI tools, as compared to just 19% of other law firms who report they have established a Gen AI budget. At the same time these firms are carving...

July 25, 2024

Attention Buyer: Not All Legal AI Models Are Created Equal

By: Simon Weierman A 2024 LexisNexis survey of managing partners and C-suite leaders at major law firms and Fortune 1000 companies found that nearly all legal executives (90%) expect their investment in Generative Artificial Intelligence (Gen AI) technologies to increase over the next five years. The survey also found that roughly one-half (53%) of Law360® Leaderboard Pulse firms have already purchased Gen AI tools...

July 25, 2024

6 Enhancements to Lexis+ AI That Improve Legal Research and Drafting Workflow

Since our initial rollout last year of Lexis+ AI , the industry’s first comprehensive legal research platform powered by generative artificial intelligence (Gen AI), we have been pro-actively seeking feedback from our customers and carefully studying the performance of the product in various professional settings. This continuous feedback loop is important in the development of any tech-enabled offering, but it...

July 17, 2024

Trust me I’m a legal AI: Addressing Accuracy and Confidentiality Concerns

By Geoffrey D. Ivnik, Esq. | Director of Large Markets, LexisNexis Law firm leaders are increasingly adopting Legal AI, Gen AI tools trained for the legal profession, but as with any breakthrough technology there is a healthy amount of skepticism that must be overcome. Building trust in Legal AI will mean resolving concerns in several areas — from issues involving accuracy and security, to ensuring clients are...

July 17, 2024

New Revenue Streams: Firms must adapt to changing client mindsets

By Geoffrey D. Ivnik, Esq. | Director of U.S. Legal Markets, LexisNexis More than three in four (77%) of senior lawyers at Am Law 200 firms believe that generative artificial intelligence (Gen AI) technology will enable them to offer new value-added services to clients, with 54% reporting they are already exploring these potential opportunities, according to the 2024 LexisNexis Investing in Legal Innovation Survey ...

July 11, 2024

Chapter 11 Bankruptcy Filings Rise in 2024: Key Elements In-House Counsel Need to Know

After a two-year decline in Chapter 11 bankruptcy filings in the immediate post-COVID period, U.S. commercial bankruptcies have returned to a more normal level of activity, according to CFO Magazine . Economic uncertainty and technology disruptions in many sectors portend additional stress on bottom lines in the months ahead. S&P Global Market Intelligence has recorded 275 corporate bankruptcies so far in 2024,...

July 10, 2024

New Revenue Streams: Gen AI for business development

By Geoffrey D. Ivnik, Esq. | Director of U.S. Legal Markets, LexisNexis The proliferation of generative artificial intelligence (Gen AI) technology trained for the legal profession is already changing the way that lawyers work by streamlining and automating time-consuming processes, such as research and drafting. For law firm leaders who are willing to jump on board the Legal AI train, it also has the potential to accelerate...

July 10, 2024

Trust me I’m a legal AI: Can the legal profession close the 'trust gap' with Gen AI?

By Geoffrey D. Ivnik, Esq. | Director of U.S. Legal Markets, LexisNexis Generative artificial intelligence (Gen AI) technology trained for the legal profession appears certain to transform the way that lawyers work. Before that can happen, lawyers and their clients need to develop trust in legal AI in the same way they trust an experienced associate. Nearly 4 in 10 senior lawyers (37%) say their firms already use...

June 27, 2024

Enhanced Public Records Tools Equip Lawyers for Anticipated Real Estate Recovery

By: Aaron Eberle The spring and summer buying season is in full bloom in the American real estate industry, a time of year when lawyers who advise clients in real estate transactions tend to be busier than usual. And expert forecasts suggest that business activity this year may be warming up right along with the weather. In spite of the major question marks looming over the industry right now — such as the uncertainty...

June 20, 2024

Crafting an Effective DEI Policy for LGBTQIA+ Employees: A Guide for In-House Counsel

The arrival of Pride Month in June is an annual reminder of the importance of workforce diversity and creating a safe place for people of all backgrounds to contribute to the success of their organizations. HR experts suggest that this year is especially important for employees who identify as lesbian, gay, bisexual, transgender or other sexual and gender minorities (LGBTQIA+). “As we celebrate Pride Month in...