legal publishers in 2007 and beyond - march 2007 - ron friedmann - prism legal consulting
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Rons Background
Legal technology consultant (4 years)CIO, Mintz Levin (1)Practice support, Wilmer (8)Legal software marketing
Jnana interactive legal advisory systems (3)iLumin online signing dot-com (0.5)
Strategy consulting, Bain & Co (3)Econometrician, Data Resources, Inc. (4)Education
JD, NYU (1986)BA, Economics, Oberlin College (1979)
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Business Context
Publisher Penetration in Law Firms
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Content Provider Value Added
CreatePrimary
Plain
Enhanced (e.g., compilations, headnotes)Secondary, interpretive, or analytic
Editors External authorities
DeliverPrint, search, e-mail, RSS
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Moving Beyond Content
Content market is limitedPublishers expand penetration via organicgrowth, acquisition, partnership
Thomson Elite, Hildebrandt, Expert Ease, Hubbard One,ProLaw, LiveNote, West KM, Monitor
Lexis-Nexis Applied Discovery, Interface, Time Matters, Datops,
HotDocs, Martindale-Hubbell, Hosting, NetDocsWolters Kluwer
Summation, TyMetrix
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Publisher Penetration by Task
Source: Concept Overview
Law Practice0
100%
Research
Write
Process
% o
f T i m e
b y
T a s
k
Identify
Save
Low penetration
High penetration
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Law Business
Information Intensive Aspects Only (Excludes Operations)
Matter intakeMarketing (including web sites)Business developmentCompetitive intelligenceFinancial accountingHR managementPlanningPractice group management
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Publisher Penetration by Task
Source: Concept Overview
0
100%
% o
f T i m e b y
T a s
k
InfoIntensive
Not InfoIntensive
Low penetration
Some penetration
Law Business
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Business Context Conclusions
Content penetration inherentlylimited hence expansionContent publishing must evolveCross-selling and integration?
TechnologyBusiness
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Content Delivery
Impact of New Technology
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Technology Affecting Delivery
PortalsTaxonomiesSearchRSSMobility
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New Delivery Paradigm
Past: visit many sources for contentPresent: content delivered to users
In more places
Via multiple formatsWith greater personalization
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Customized Delivery
Taxonomies give matters andinformation meaningPortals aggregate multiple sources
Newsreaders and RSS support analternate delivery approachSmart search eases finding info
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Delivery Business Issues
Who purchases?Past: Librarians called all the shotsPresent: CIOS, knowledge managers,
and lawyers are influencers, if notbuyers
Pricing and licensing
Placing bets on technologyFocus on content or on technology?
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Best Focus is on Content
Law firms want deliveryVia various technologiesOn flexible license terms
With tagging that adds meaningLaw firms want
Content from multiple publishers
Software from tech companies
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Law Firm Quotes
On TechnologyOn Aggregating Publisher Content
OMITTED IN THIS VERSION
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Delivery Tech Wildcards
BlogsPodcastsWikis and collaborative softwareSocial tagging / social networkingXML
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Blogs
Impact is more on content creationthan consumption or delivery
More on content creation later
Reading many blogs impracticalAggregation via RSS is probablybiggest impact
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Podcasts (audio and video)
Limited traction so farMore about creation than deliveryPotential to expand reach of text byconversion to audio or video
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Wikis and Collaboration
Limited traction to dateLawyers wed to e-mailBut Allen & Overy uses wikis
Impact of broader useAnother content container populatedmanually or automatically
Potential for content creation
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Social Tagging and Networking
Not yet common in legalOnly a few lawyers need to tagcontent to create new value
Internal contentExternal content
No MySpace for lawyers - yet
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XML
Office 2007 built on XMLPotential to tag document partsEntity extraction engines emergingMakes content easier to re-usePotential to integrate with clients
Transactions and legal updatesImpact on both creation and delivery
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Content Creation
Impact of new technology
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Threat?
New tech > new content providers?Wither the role of the comprehensive,integral, and context-rich sources?
If so, substitution or net growth?
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Technology Affecting Creation
BlogsRSSPodcastsXMLLower cost web technologies
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Large Firm Blogs (Branded)
Firm # BlogsSheppard Mullin 9Womble Carlyle 8Davis Wright 4Fox Rothschild 3Holland & Hart 2Bracewell Giuliani 1K&L Gates 1Porter Wright 1Sutherland Asbill 1
Total 30
http://www.prismlegal.com/index.php?option=content&task=view&id=118&Itemid=73http://www.prismlegal.com/index.php?option=content&task=view&id=118&Itemid=73 -
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Large Firm RSS Feeds (# feeds)
Duane Morris (10)Fulbright (1)Jones Day (30+)White & Case (20+)WilmerHale (20+)
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Example of Feeds
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Other Legal Self-Publishing
Niche web sitesFood packaging by Keller & HeckmanAED Risk Insights
Niche blogs (not firm branded)Drug and Device Law (Dechert counsel + Jones Daypartner)
Silicon Valley Media Law (Wilson Sonsini partner)Suits in the Workplace (2 McGuire Woods partners)
Torys video Podcast center
http://www.packaginglaw.com/http://www.aedriskinsights.com/http://druganddevicelaw.blogspot.com/http://www.svmedialaw.com/http://suitsintheworkplace.com/blogs/http://www.torys.com/video/http://www.torys.com/video/http://www.torys.com/video/http://www.torys.com/video/http://suitsintheworkplace.com/blogs/http://www.svmedialaw.com/http://druganddevicelaw.blogspot.com/http://www.aedriskinsights.com/http://www.packaginglaw.com/ -
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Primary Sources as Publishers?
Web makes publishing easyAgencies, courts already have sitesMore functionality (e.g., new NASD
manual)XML allows adding value
SEC enhances EDGAR with XBRML
TaggingIf content provider use tags and enableRSS, less need for intermediaries
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Other New Content Providers
Lower costFastCase for case law and statutes
InnovativeRealPractice Public Access (to EDGAR)
Precydent (new search engine for fed cases)Expert systems
Mavent mortgage complianceCollaborative
Blogging and Other Social Media: Technology(law book being written via wiki)
Legal Week Wiki (UK, info about large firms)
https://www.fastcase.com/Corporate/Home.aspxhttp://www.practicetechnologies.com/products/realpracticepublicaccess.htmlhttp://www.precydent.com/precydent_search/sv1.dohttp://www.mavent.com/http://humanlaw.pbwiki.com/http://www.legalweek.com/Articles/List.aspx?sArticleTypeIDs=15&liNavigationItemID=36&bAZSearch=truehttp://www.legalweek.com/Articles/List.aspx?sArticleTypeIDs=15&liNavigationItemID=36&bAZSearch=truehttp://www.legalweek.com/Articles/List.aspx?sArticleTypeIDs=15&liNavigationItemID=36&bAZSearch=truehttp://humanlaw.pbwiki.com/http://www.mavent.com/http://www.mavent.com/http://www.precydent.com/precydent_search/sv1.dohttp://www.practicetechnologies.com/products/realpracticepublicaccess.htmlhttps://www.fastcase.com/Corporate/Home.aspx -
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Opportunities
Gain share or sustain pricing via highervalue deliveryFlexible deliveryInfer more from individual use-pattern
Sell smaller chunks but avoid cannibalizationBecome community for legal niches
Co-opt, dont fight individual producers?Aggregate and distribute
Maximize value of human resourcesMore analysis
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