Bloomberg Law
Bloomberg Law arrived on the legal research scene in late 2009 under a pilot program. The Financial Times reported that this unit formed part of Bloomberg L.P.'s drive to diversify beyond banks and investment groups. These entities made up the core customers for its eponymous terminals. In 2010, the service was formally launched as a direct competitor to established giants. Prior to this moment, two services dominated the market: LexisNexis and Westlaw. Bloomberg sought to separate itself by integrating company data with legal research tools. The platform combined content from Bloomberg's global news network with legal analysis and court dockets. It also included reports from Bloomberg legal analysts alongside business news and information. Attorneys could draw upon stock charts or search patent histories within the system. The service priced all features under a single fixed monthly fee.
In August 2011, Bloomberg L.P. purchased Bureau of National Affairs for $990 million. This acquisition allowed the firm to integrate legal materials from BNA into the Bloomberg Law library. The deal bolstered proprietary data and content available to subscribers. Features added through this integration included Litigation and Dockets sections plus Legal and Financial Analytics. A Business Development Center emerged alongside Practice Tools and News and Law Reports. By September 2019, Bloomberg BNA changed its name to Bloomberg Industry Group. This new entity now includes Bloomberg Tax, Bloomberg Government, and Bloomberg Environment. The purchase represented a significant shift in how the platform delivered legal information to users.
October 2010 marked a turning point when Lou Andreozzi joined Bloomberg Law as chairman. He was a former chief executive officer of LexisNexis North American Legal Markets. Larry Thompson arrived simultaneously as chief operating officer after serving as global marketing officer at LexisNexis. In September 2012, Greg McCaffery took over as chief executive officer of Bloomberg Law. McCaffery had previously served as CEO and president of Bloomberg BNA. January 2014 saw Bloomberg BNA take over day-to-day operations of Bloomberg Law. Josh Eastright assumed the role of CEO for Bloomberg BNA in 2018. July 2018 brought Joe Breda as President of Bloomberg Law, succeeding Scott Mozarsky. Breda previously held the title of Executive Vice President of Bloomberg Industry Group's Product team.
Between 2014 and 2015, Bloomberg Law expanded its capabilities significantly. The platform debuted State Chart Builders that allow comparison of relevant laws from different jurisdictions. Smart Code technology emerged using machine learning to create virtual annotated codes. Practice-specific products launched for corporate transactions, privacy, and data security sectors. Banking practice areas received dedicated coverage during this period. Financial and legal analytics became central components of the service offering. In May 2015, Legal Insider noted the launch of Bloomberg Law: Corporate Transactions as a potential next big thing in legal IT. The platform integrated Bloomberg Industry Group products to focus on practice tools for attorney productivity. This expansion transformed the service from a simple research tool into a comprehensive business development environment.
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Common questions
When did Bloomberg Law arrive on the legal research scene?
Bloomberg Law arrived on the legal research scene in late 2009 under a pilot program. The service was formally launched as a direct competitor to established giants in 2010.
What services dominated the market before Bloomberg Law launched?
Prior to this moment, two services dominated the market: LexisNexis and Westlaw. These entities made up the core customers for Bloomberg L.P.'s eponymous terminals.
How much did Bloomberg L.P. pay to purchase Bureau of National Affairs?
In August 2011, Bloomberg L.P. purchased Bureau of National Affairs for $990 million. This acquisition allowed the firm to integrate legal materials from BNA into the Bloomberg Law library.
Who became chief executive officer of Bloomberg Law in September 2012?
Greg McCaffery took over as chief executive officer of Bloomberg Law in September 2012. McCaffery had previously served as CEO and president of Bloomberg BNA.
What new capabilities did Bloomberg Law expand between 2014 and 2015?
Between 2014 and 2015, Bloomberg Law expanded its capabilities significantly by debuting State Chart Builders that allow comparison of relevant laws from different jurisdictions. Smart Code technology emerged using machine learning to create virtual annotated codes during this period.