The impact of Practical Law
Practical Law allows us to provide the quality legal services that we want at a reasonable price for our clients. In today’s society, they come in and they need something tomorrow or next week. In order to do that, we’ve got to be able to get into the information as quickly as possible. Practical Law gives us that edge to be able to do that.
I recently purchased Practical Law to expand my firm's legal research resources and I couldn't be happier with my purchase. The site is extremely user-friendly and offers tools in a wide variety of practice areas. Since I act as corporate counsel for numerous companies throughout California, I often find myself using many of the Practical Law resources when drafting complex agreements for these clients. It's a great "all-in-one" place to find up-to-date legal information relevant to their needs.
Ours is a small but growing business law firm in the San Francisco Bay Area and we've been using Practical Law since 2013. I believe that Practical Law is the best resource for business transaction legal information on the market. It gives me one place to go where I am quickly able to get a good and reliable overview of sophisticated and complex legal issues that provides me with critical context, information and guidance that enables me to work much more efficiently.
I have been using Practical Law for several months and Drafting Assistant for over a year. Both of these products are huge time-savers, and have helped me leverage technology as a small firm that goes up against some of the largest firms in the country on a regular basis. Practical Law is almost like having an extra associate to draft memos, create step-by-step instructions on everything from drafting an affidavit to enforcing a judgment, and provide summary-level legal research of a specific area of law I don't deal with all the time or need to be updated regarding. Drafting Assistant is like having an extra paralegal around, one who can cite-check quickly and put together a table of authorities and table of contents in no time flat for filing a brief. Together, Practical Law and Drafting Assistant are like having a litigation team available 24/7, freeing me to concentrate on the big picture.
Suite of Products and Profitability
“Practical Law and Drafting Assistant are extremely valuable resources for getting the actual practice of my practice done.”
I began using Practical Law a few months ago and found it useful right off the bat. Our firm handles many common document projects on a flat-fee basis, and I have been able to improve our forms so that I know our clients are getting good value. Every firm with a form bank eventually finds that their forms are out of date or stale and Practical Law is a great solution to that problem. The forms are current and the commentary is useful, even for experienced lawyers. I know we are providing better service to our clients with it, and the best part is we are saving time.
As the owner of a new law firm exclusively representing businesses and entrepreneurs, I find Practical Law invaluable for forms, research and practice notes. It enables my associates and me to quickly research, find forms, answer questions, and identify areas for further research. Our firm has an extensive Thomson Reuters package. We use Firm Central, Form Builder, Custom Forms, Deal Proof, Thomson Reuters Westlaw and Practical Law. The concept of a single system really sold us - the integration is terrific.
We are very impressed with the breadth and depth of Practical Law resources for business transactions. Even though we already have other resources, the Practical Law content is better, more thorough, and has the higher level of sophistication that we need for our clients. The Practical Law "What's Market" feature has proven to be an instrumental tool in putting us on an even footing when negotiating with lawyers at large firms. Having access to all of these resources has added significant value to our small firm by helping to keep us informed and competitive. Practical Law has more than paid for itself in the time we have saved and the value we are providing to our clients. It is a resource that no business lawyer should be without.
For me, as a small firm practitioner, the main strength of Practical Law lies in the notes and explanations to the model agreements. Also, I find it helpful when the same agreement is drafted from different perspectives, so that I can choose one depending on which party I represent. Practical Law enables me to produce high-quality documents in a shorter time frame than before, and keeps me informed of recent legal developments. The Practical Law State Q&A Comparison Tool is a great resource for comparing different states' laws on the same subject. I would absolutely recommend Practical Law to other small firms or solo practitioners.
Practical Law saves me a significant amount of time, allowing me to better serve my clients through increased efficiency and accuracy. It is a fantastic resource for current and legally compliant, vetted policies and procedures. I would absolutely recommend it to others.
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