The New Legal Tech - a Global Phenomenon

David Curle

Director, Market Intelligence

Thomson Reuters Legal

ELTA Legal Tech & Innovation Meetup

Berlin, 19 October 2016

REUTERS / Firstname Lastname

2

A few words about

Thomson Reuters

3 Thomson Reuters

Global Presence

Top 10 locations ranked

by number of employees

1. Eagan

2. Bangalore

3. New York

4. London

5. Carrollton

6. Beijing

7. Hyderabad

8. Gdynia

9. Bangkok

10. Manila

We have operated in more than 100 countries for 100 years

1

10

3

4 8

6

2

7

9

5

4 Thomson Reuters

Financial and Business Model Overview

• Proprietary databases and deeply embedded

workflow tools and analytics

• 87% of our 2015 revenues were recurring

• 93% of revenues were from information delivered

electronically, software and services

• No single customer accounted for more than

1.5% of 2015 revenues

• #1 or #2 in market share in most of the business

segments we serve

63%

27%

10%

2015 Revenue by Region

Americas Europe, Middle East and Africa (EMEA) Asia Pacific

Our Businesses: Legal

Thomson Reuters 5

Customers Key Products

Large and Medium Law Firms:

• Lawyers

• Law librarians

• CMOs, CTOs, CIOs (and staff)

• Paralegals and other legal professionals

• Westlaw

• Practical Law

• Legal Managed Services

• ProView and print titles

• Aranzadi, Aranzadi Fusión

and Lawtel: Europe

• La Ley, Legal One and

Revista dos Tribunais:

Latin America

• Practice Point

• Elite 3E, Mattersphere

• eDiscovery Point

• Business Development Premier

• Monitor Suite and Peer Monitor

Small Law Firms:

• Lawyers

• Law firm management professionals

• Paralegals and other legal professionals

• Firm Central

• FindLaw

• ProLaw

• Practice Point

• eDiscovery Point

Corporate Segment:

• General Counsel

• Corporate legal professionals – investigators,

risk, compliance, security

• Practice Point

• eDiscovery Point

• Legal Tracker

• CLEAR

Government:

• Government agencies

• National, state and local courts

• Law enforcement

• CLEAR

• PeopleMap

• C-Track

• Legal Tracker

• Drafting Assistant

6

www.legalexecutiveinstitute.com

7

Why now?

Why here?

8

Law is

Important

9

10

Tech is Fun

11

12

Legal Education Business Development / Marketplaces E-discovery

Practice Management Legal Research Case Mgmt /Analytics

Consumer Online Dispute Resolution

Legal

Tech

Startup

Landscape

Document Automation Contract Management / Analysis

Litigation Funding

13

Law School and Academic

Professional Associations

Informal and Meetups

Open Legal Data

Startup and Innovation Hubs

14

Legal Tech is

Fragmented

15

Applications

Practice

management

Litigation

analytics

Document

automation

Legal

marketplaces

eDiscovery Online disupte

resolution

Legal

research

Contract review

and analysis

Litigation

Funding

16

Markets

Law schools

Government

In-house legal

departments

Courts

Consumer Law firms

17

Technologies

Visualization

Big data

analytics

Cloud

Expert systems

Blockchain Natural

language

processing

Social media

and

crowdsourcing

Machine

learning

Geographies

18

19

Legal Tech

Challenges

20

Legal is

Jurisdiction-Specific

21

Legal is

Not That Big

Global legal spend

~$700 Billion

Walmart

~$482 Billion

Global Pharma Sales

~$1,300 Billion

US Construction

Industry

~$1,700 Billion

22

Legal is

Full of Latent Markets

But there is a reason they are latent:

NO MONEY.

23

Legal is

Highly Regulated

Some places more than others

24

Legal is

Resistant to Change

http://audiencestack.com/static/blog.html

25

We Need

Everybody Law students

Academics

Legal

operations

managers

Developers

Legal

Practitioners Entrepreneurs Academics

Marketers

Process

engineers

Academics

Data scientists

and analysts

Funders

Design

engineers

26

Take the Message

Beyond This Room