Bloomberg Law
| Company type | Subsidiary |
|---|---|
| Industry | Legal research, Legal technology |
| Predecessor | Bureau of National Affairs (BNA) |
| Founded | 2009 |
| Headquarters | New York City , United States |
Area served | Global |
Key people | Greg McCaffery (former CEO), Joe Breda (President) |
| Products | Legal research platform, Litigation and Dockets, Legal and Financial Analytics, Business Development Center, Practice Tools, News and Law Reports |
| Owner | Bloomberg L.P. |
| Parent | Bloomberg Industry Group |
Bloomberg Law is a subscription-based platform that utilizes artificial intelligence and data analytics to facilitate online legal research. Introduced by Bloomberg L.P. in 2009, it offers legal materials, exclusive company information, and news targeted at lawyers, law students, and other legal professionals. This commercial legal and business resource combines Bloomberg Law News with primary and secondary legal content from Bloomberg Industry Group, alongside tools designed to support business development.
Creation and services
The web-based Bloomberg Law platform was initially launched as a pilot program in late 2009. As reported by the Financial Times, this initiative aligned with Bloomberg’s efforts to expand beyond its established banking and investment clientele. The official launch occurred in 2010. Developed by Bloomberg BNA, the platform aims to assist law firms in increasing revenue streams, delivering efficient legal counsel, and enhancing overall profitability.
Prior to Bloomberg Law’s entry, LexisNexis and Westlaw were the predominant providers in legal research. Bloomberg L.P. set itself apart by integrating its financial data expertise with legal research capabilities, merging global news coverage, legal analyses, court docket information, filings, and reports authored by Bloomberg’s legal analysts alongside business news updates. Subscribers gain access to resources such as stock performance charts, patent records, and profiles of judges and attorneys. The service operates on a fixed monthly subscription model that includes all features.
In 2011, Bloomberg L.P. acquired the Bureau of National Affairs (BNA) for $990 million, subsequently incorporating BNA’s extensive legal content into Bloomberg Law. Core components of the platform include Litigation and Dockets, Legal and Financial Analytics, a Business Development Center, Practice Tools, as well as News and Law Reports. In September 2019, Bloomberg BNA was rebranded as Bloomberg Industry Group, which now encompasses Bloomberg Law, Bloomberg Tax, Bloomberg Government, and Bloomberg Environment.
Growth and expansion
In October 2010, Lou Andreozzi—formerly CEO of LexisNexis North American Legal Markets—joined Bloomberg Law as chairman, while Larry Thompson, who previously served as global marketing officer at LexisNexis, assumed the role of COO. The acquisition of Bureau of National Affairs (BNA) in September 2011 further enriched Bloomberg’s proprietary data and content offerings.
Greg McCaffery was appointed CEO of Bloomberg Law in September 2012; he had formerly led Bloomberg BNA. By January 2014, operational control of Bloomberg Law was transferred to Bloomberg BNA’s management team. Josh Eastright took over as CEO of Bloomberg BNA in 2018.
Between 2014 and 2015, Bloomberg Law introduced new functionalities such as docket coverage for state, federal, and selected international courts; enhanced financial and legal analytics; and specialized products tailored for corporate transactions, privacy and data security issues, as well as banking law. In July 2018, Joe Breda succeeded Scott Mozarsky as President of Bloomberg Law; Breda had previously served as EVP overseeing product development for Bloomberg Industry Group.
Bloomberg Law has incorporated products from Bloomberg Industry Group with a focus on tools that improve attorney productivity.
Features
- Dockets: The platform provides comprehensive docket coverage for state-level, federal courts, and select international jurisdictions featuring Breaking Complaints along with unlimited alerting and search capabilities.
- Analytics: Two principal analytics categories—financial and legal—are offered. The Bloomberg Law News Search aggregates content from over 50,000 news wires while the Business Development Center delivers insights on mergers & acquisitions rumors, bankruptcies, lawyer movements, among others.
- Points of Law: AI-driven case law research utilities designed to pinpoint judicial decisions addressing particular legal issues.
- State Chart Builders: Tools enabling side-by-side comparisons of laws and regulations across different states.
- Smart Code: Employs artificial intelligence and machine learning techniques to produce virtually annotated legal codes.
- Brief Analyzer: AI-powered solutions aimed at minimizing the time required to review legal briefs.
- Litigation Analytics: Provides organized data segmented by attorneys, law firms, courts, judges, and corporations for strategic decision-making.
- Practical Guidance: Offers comprehensive support for litigators and transactional lawyers spanning various practice areas.