Bloomberg Law

Check out the latest edition of Inside Big Law here: Wachtell’s strategy has made the 60-year-old Manhattan firm the country’s most profitable but that same approach now challenges its ability to reclaim the top spot among the industry’s M&A dealmakers. Roy Strom in his Big Law Business column looks at why large firms are reluctant to take on contingency fee cases. In a sign of Big Law’s commitment to Boston, Paul Hastings is leasing new space in the city’s iconic Hancock building while Simpson Thacher wants to triple its headcount there within three years.

In the second installment of our law schools special report, recent law graduates share how they're bringing their AI expertise to their firms. We also delve into new practical skills offerings at top schools and share one student's tips for how to rock your Big Law summer. Explore the installment here with stories from MP McQueen, Stefan Sykes, and Isabella Robakowski: https://lnkd.in/e9-jxrZ7

When deploying a contract management solution, a phased approach is best, according to InnoLaw Group, PLLC CLM Consultant & General Counsel Lara Trope, "A phased approach to automation is almost always the right way to do it, especially right at the beginning when you're just getting used to what the tool can do." In the fourth installment of our “A Buyer’s Guide to Successful Contract Management Automation” webinar series, Lara joined us to speak on best practices for CMS deployment and adoption. Watch the replay for more insights from Lara: https://lnkd.in/dm9DGbbJ

The latest Inside Big Law is here: Susman Godfrey’s unique process in deciding which cases to invest in plays a central role in the elite boutique litigation firm’s skyrocketing revenue. Fortress Investment Group describes its litigation finance strategy in depth for the first time. Employment law firm Outten & Golden defends decision to drop its representation of a Columbia Law School professor.

Managing all your legal projects through email? It’s not worth the risk (or the headache). Critical client requests and essential updates can get buried in long threads, resulting in missed deadlines, duplicated efforts, and inefficiencies. Dashboard Legal offers a solution to email's pitfalls by breaking down information silos and meeting the unique needs of lawyers. In this video, Founder Mat Rotenberg shares how Dashboard Legal transforms project management, collaboration, and productivity for legal professionals. Learn more: https://lnkd.in/ev94TFdH

Check out the latest edition of Inside Big Law here: Cleary Gottlieb is adding a non-equity partner tier with the next round of associate promotions. Law schools across the country are adapting course offerings to make students AI savvy and ready for legal practice. Fifty-eight percent of legal departments expect to rely less on outside service providers because of Gen AI, according to a new report by the Association of Corporate Counsel and Everlaw.

The legal profession has a problem with burnout, according to findings from our workload & hours and attorney well-being surveys. Attorneys felt burned out almost half of the time at work in the second half of 2023. And with the average number of hours worked every week hovering just around 50 during this period, it comes as no surprise. Awareness of, and frustration with mental health and well-being in law has never been higher, yet systemic change has been slow to manifest. Take a moment this World Mental Health Day to focus on your welfare, and when you're done with that, dive into our well-being report to learn about the divide between mental health and the legal industry: https://lnkd.in/emPEWKwY

The legal industry has been embracing AI to varying degrees—some with hesitation, some with haste. To help leaders in the sector navigate and understand AI as it applies to their organizations and clients, we gathered expert panelists for an exclusive executive forum. In welcoming remarks from Bloomberg Chief Legal Officer, David Levine, attendees learned the three principal reasons why the legal industry is poised to be among the most impacted by recent technological advances: 1️⃣ "The nature of what we do is very text and language heavy, which is one of the areas where generative AI has the greatest potential." 2️⃣ "Law firms and in-house legal departments have historically spent less time and money on technology than other sophisticated organizations and are less advanced, which means there is significantly more room for improvement." 3️⃣ "Clients of legal services will ultimately demand that generative AI capabilities be deployed in much the same way that we require eDiscovery." For over a decade, we have been leveraging AI to transform our offerings and empower lawyers with the tools to speed up and simplify tasks. Learn about our AI-driven solutions and tools: https://lnkd.in/eWJbC6im

One company allegedly programmed its AI-powered software to reject women job candidates over age 55 and men over 60, the agency that enforces workplace anti-discrimination laws told Congress. Another company allowed customers to systematically prevent American citizens from applying for open jobs through its website, the agency alleged. While those cases were resolved without admitted wrongdoing, the EEOC told federal lawmakers they show how companies could violate anti-discrimination laws by relying on AI and algorithms. In a report obtained by Bloomberg Government through a Freedom of Information Act request, the commission also warned US lawmakers that it will need to build up more resources to educate employers and conduct investigations. Read more in an exclusive from Jack Fitzpatrick, Kaustuv Basu, and Rebecca Klar: https://lnkd.in/eUjKQ4uu

We welcomed Mike Bloomberg to our office this week to give employees the opportunity to hear from him directly about the values that define Bloomberg – in particular, focusing on customer service and giving back to the community. He spent time with our sales and product teams where he heard about our latest innovations for Bloomberg Law, Bloomberg Tax, and Bloomberg Government, and he offered his perspective on building market-disrupting technology and delivering value to clients. We were all inspired by his journey, philanthropy, and words of encouragement.