Lexisnexis + Harvey notifies the Alliance - will share legal data

Lexisnexis + Harvey notifies the Alliance – will share legal data – artificial lawyer

In what is probably the most important movement of legal technology in a decade, Lexisnexis – one of the largest legal data providers in the world – is forming a ‘strategic alliance’ with the pioneer of Genai Harvey. Basically, Lexis will share his legal data with Harvey. They will also build products together. One can go so far as to say that this is really the beginning of a new chapter in the history of legal technology. After that, everything will be different, (see AL analysis below).

The measure does not come long as the wing of Lexisnexis venture joined a round of funding in Harvey, but – still – does not guarantee an M&A deal between the two. That being said, the parent of Lexis, Relx, can allow to buy Harvey – even in the massive ratings it is now – if such an agreement would be given green light by all involved in the future.

However, even without full integration this is still a massive action that will potentially reshape the legal technology market And it drives peers to respond as they seek to match this combination of data, the legal expertise of it technology, market achievement, brand recognition and human talent.

Artificial lawyer spoke with Sean fitzpatrickCEO, Lexisnexis North America, the United Kingdom and Ireland, for the deal. The first question was: Will this lead to an M&A deal? Fitzpatrick said: ‘We are focused on cooperation and do not discuss potential purchases’.

And someone would expect this answer – though it was not a total.

Then why do you do that? Answer: Customers brought this to Lexis.

‘Our clients brought us to us. They work with us and work with Harvey, which has over 300 clients all over the world. Customers said we have supplementary wealth and if we together they could be really great. ‘

“So we made a pilot with a big legal firm and got excellent results,” he added. ‘Customers want efficiency, but they also want accuracy and thus need authoritarian content. ‘

Fitzpatrick said the deal had NO They have been caused by the previous ARM Investment related to Lexis in Harvey, and that no role on board would change as a result. Also, technology teams – while cooperating – would not integrate as such.

Al then asked Fitzpatrick how big a deal was. He replied that ultimately all lawyers will have their own helper – (and obviously Lexis hopes to be theirs). So it would seem that the combination of Harvey with Lexis as this brings them closer to this purpose.

For now the deal is focused on US law and the products they are co-development, then if everything goes well, there is room for more expansion.

And in terms of the price of this, this will be set by Harvey, as now the travel management is from Harvey to the Lexis data, and then with the ability to use the tools of the Lexis (if they are already a client of Lexis).

As for the future, Fitzpatrick concluded: ‘Who knows where this will go?’

And that’s a great question – see the analysis below.

One last question he had was: Will this not create competing products about productivity, such as DOC review and design? Fitzpatrick said: ‘They are complementary products and almost all Harvey customers are also read clients.’

Ok, we’ll go back to why this is such a big job soon, but first some more than the deal involves.

Harvey customers will benefit from Lexisnexis Generating Technology he and exclusive legal content, including the issue of US issues, statutes and quotes of Shepard and jointly developed legal work, they said.

Inside Harvey, customers will also be able to search from Lexisnexis Proteche – Assistant to the company’s flag – to receive comprehensive, entrusted response to the LEGISNEXIS data collection.

Let’s repeat it a little. Harvey users will be able to directly touch Lexis data – a large library of millions of cases and more. Something like this has always been the missing part of Harvey.

Also, Harvey and Lexisnexis will develop sophisticated flows of legal work built on the latest generating technology. These initially developed work flows will include:

‘Motion to dismiss the workflow: It generates a high quality movement to reject arguments and communications related to clients with legal research content by Lexisnexis
Movement for the course of summary Judgment work: Automates the main steps in drafting a summary judgment proposal with the support of the content of legal research by Lexisnexis. ‘

And the main part here is that they are working together on products. The new features themselves do not currently look worldwide, but this is day one of the alliance. There will be much more to come.

The main point is that they are together building traits that customers will use, thus connecting the two increasingly closest businesses and also their customers with this new alliance.

Winston WeinbergThe Director General of Harvey said: ‘Our clients trust Lexisnexis for authoritarian legal content, and we are excited that they will benefit from lexisnexis skills within Harvey experience. Together, we are providing quiet access in reliable response, supported by citation and custom workflows, making legal work faster and easier than ever. ‘

And also in a prepared statement, FitzpatrickCEO, Lexisnexis North America, the United Kingdom and Ireland, added, our strategic alliance with Harvey reflects our commitment to use the best available technology of it to give the answers with the highest quality and make the work easier and more effective. “We are pleased to co-develop the course of work with Harvey and bring the power of Lexisnexis technology he and the authoritarian legal content directly to Harvey customers.”

Legal technology and legal content of Lexisnexis will be integrated into Harvey later this year. Developing the cooperative motion to reject and move for summary judgments The work flows will begin immediately, they added.

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Analysis Al: Does do this mean for the legal technology market?

This is massive. In fact, even without union this is already an action that is likely to change the business strategies of many companies in this sector – and the decisions of buying hundreds of legal firms and inhouse teams. One can go so far as to say that this is really the beginning of a new chapter in the history of legal technology. After that, everything will be different whether there is a union or not at one point.

However, given what we already know, here are some main observations ::

Harvey, funded as no other legal technology beginner before, has grown and grown in just over two and a half years in a global brand and has collected clients throughout the big law, small law and inside, at a tremendous pace. What they offer is a very wide platform that offers features in most areas of commercial law. What they have lacked their offers, however, is a large, curated and high quality library of legal data and case law. Now they will have it. The benefits of this should not be underestimated.
Harvey was rumored to have approached Vlex a few months ago – another large legal data provider, which also has an increasing range of he – in order to obtain this very necessary legal data. However, market grapes said the deal was rejected.
Thomson Reuters may have bought Casetext – which was immersed and then partially retired – but this is at a completely different level. Casetext was a pioneer, but a small company with much lower recognition of the global brand than Harvey, also did not have OpenAi and Sequoia as investors. TR now will have to answer.
A logical action for TR would be to try and buy Harvey’s legora rival. However, Max Junestrand, CEO I Legora, said on stage at Legal California Innovators last week that he wanted ‘M&A people in Thomson Reuters will f ***!’ This suggests that TR has already made serious access to Legora – and maybe they did the same with Harvey at an early date? Tr did not comment on such possible efforts. But one thing is clear – Lexis + Harvey looks like a very powerful proposal and TR will seriously worry about losing the market share. Their position as a legal data store, IE through Westlaw and PLC will remain intact – but what they could lose on the market is a market where it is used for the design, review and aspects of higher legal research.
This will also affect the rest of the market. VLEX will now face not only TR and Lexis as usual, but a harvey backed by data. Other players in the market can also feel disadvantaged, especially if Harvey and Lexis co-developed more tools and expand their alliance. And if they move in a full union, then wow….
In general, many assumed that the market would stay as it was for at least one year or two before consolidating at the top like this. Now, this is not an M&A deal. But, in fact Harvey and Lexis ‘are an’ when it comes to US legal data and productivity tools Genai.
So follow the points are:
When will Lexis Harvey Harvey buy, given that most companies usually do not carry alliances like this without split again or moving into a total agreement?
Will what will TR do afterwards, given that Lexis has exceeded them? Ie will they move to buy a legal platform of the legal one?
Will what will VLEX do, now that they face TR and a Lexis and Harvey embedded now?
Will what will the smallest companies seek to play in the same field? How can they win the market share against such competitors? How will it have to respond with the increase in client approach, product development and marketing efforts?
Will this cause more consolidation in the market, as smaller companies seek to build in size?
And of course, what will the customers do possible for that? For those who already use both is a win. For those who are not, it is an interesting proposal. And as the Chief of Lexis said, we will have to wait and see how the market reacts.

There will be more to follow. But, in the same way, congratulates Harvey and Lexisnexis, this is a bold and ambitious step that moves the market.

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