If you are looking for a legal Company to cater to you and your business in legal matters, then Practical Law is absolutely one!
This article will explain what Practical Law is and how it can serve you in all your legal issues. So, let’s begin.
Practical Law is a division of West Publishing Corporation. It is a legal publishing company that aims at providing legal know-how for business lawyers. It is also a secretariat for the GC100 group of general counsel & company secretaries.
Historically speaking, this Company founded in the early 1990s. The Company has two founders, namely Chris Millerchip & Rob Dow. Initially, the Company was set up to publish PLC Magazine. Yet, with the passing of time, the Company was expanded to provide predominantly web-based subscription services to various law firms & law departments. These law firms and departments were concerned with multitudinous subject areas, including corporate, Finance, Property, Tax & intellectual Property, etc.
Practical Laws then began its journey toward transactional lawyers in the United Kingdom.
The co-founder of the Company, Mr. Chris Millerchip, stated:
“We fabricated the thing that we wanted when we were in practice.”
Ten years afterward, the Company introduced a specialized set of tools to help transactional lawyers work efficiently.
Practical Laws developed and is still updating its services like practice notes, document templates, standard clauses, deal checklists & tools, etc., all of which lays out the basics of making deals for the junior associates.
Practical Law successfully generated a staff of 500+ peeps approximately in the U.K. Not only in the U.K., but it also has its branch in New York, the United States, with 300+ staff members serving the Company.
Role of Thomson Reuters
By the year 2013, Practical Laws were taken up by Thomson Reuters. At Thomson Reuters, Practical Law provided:
- Access to thousands of easy-to-read forms, templates, checklists & legal updates to rise to speed fast
- Lucid enlightenment on diverse and demanding subject matters
- Provided top-notch legal services
- Gave time-saving Content & tools for daily work
- Imparted valuable solutions to tough challenges
What is Practical Law Dynamic Tool Set?
These are state-of-the-art tools in Practical Law that help users in gaining deeper insights & better answers to the subject matter under study. For Practical Law Dynamic Tool Set, a demo can also be requested by filling out the official Website form.
Following are the attributes of the Practical Laws Dynamic Tool Set:
Through a knowledge map, one can visually navigate a comprehensive view of one’s matter through Practical Law’s collection. Thus, identifies the issues thoroughly
One can identify local laws much faster by using Quick Compare. Through this, custom charts can be created. These charts help in exploring the topics.
What’s Market Analytics
Create data-driven insights and visualizations With What’s Market Analytics, data-driven insights & visualizations can be fabricated. Thus, the user can analyze & share market trends easily.
With Dynamic Search, traditional research could be transformed into something more productive and influential. Accurate answers are extracted with relevant links thus.
Matter Maps provided an overview of the core phases & tasks in a legal matter. It also gives links to the critical resources at every step. Being interactive, these maps allow their users to customize the map independently.
Fortunately, Practical Law has always satisfied its customers and received positive Feedback. 93% of customers believed improved work quality with Practical Law was seen since Thomson Reuters joined.
Mid-size Law Firm reviewed:
“For a big firm using Practical Law, the time benefit alone is exponential and huge; it allows one to spend time more efficiently.”
Large Law Firm commented as:
“Practical Law has cut down on required research time significantly. It is an invaluable resource and a valuable asset too.”
Lastly, Jess Nock, who is a Senior Counsel at Harbison Walker International, believed:
“Practical Law is the best friend you never knew you needed unless you would have it.”
Features of Practical Law
The following are transparent features of the Company:
- 90,000+ total resources
- 16 practice areas
- 157,000 working hours spent back in 2021 and more to go this year
- 650+ highly experienced attorney editors globally keeping the customers up-to-the-date
Benefits of Practical Laws
Now the question arises what are the benefits of applicable Law? Mmmm….. some of them enlisted here:
Explore Practice Area Coverage
In-depth resources across 16 major subject areas guarantee the exact coverage of customer needs. So, it helps to complete your work efficiently by making you aware of the unfamiliar. And so, it boosts your confidence. Following is the list of practice areas through which you can examine the extensive coverage of Practical Law.
- Agriculture & Rural Land
- Business Crime & Investigations
- Capital Markets
- Data Protection
- Dispute Resolution
- Financial Services
- IP & IT
- Life Sciences
- Local Government
- Media & Telecoms
- Private Client
- Property Litigation
- Public Law
- Restructuring & Insolvency
- Share Schemes & Incentives
Gain a built-in Attorney Network By Practical Law
Getting help from Practical Law is as if amplifying a virtual extension to your team. Therefore, with the use of its resources, a person could acquire assistance from highly professional attorney editors.
On-Time Task Completion
Through proficient tools, lawyers can complete the tasks on time which develops confidence in the customer.
Ready-to-use Templates By Practical Law
Instead of starting from scratch, it’s easy to begin from something already available. Practical Law gives ready-to-use templates. Through which one can in no time find & customize gold standard documents, agreements, policies & much more with professional legal guidance.
Through Practice Notes, the user can obtain straightforward guides to address the perplexing issues. So, crystal clear explanations of current Laws signify that the user can get up to speed fast.
Addressing Legal Issues
With just a few clicks, the user can have step-by-step explanations through the manifestation of checklists. Thus, you can address your legal issues and save time leading to peace of mind.
Explore Top-Notched Resources
Through Practical Law, the user can access multidisciplinary & user-friendly resources. Moreover, with several customizable legal forms, checklists, templates, drafting clauses & practice notes.
Hasten Understanding Of Practical Law
Immediate guidance from the experts on the foreign legal subject matter, alterations in Law & evolving trends helps hasten understanding the user.
As a concluding remark, Practical Law indeed is one of the best helps one could have in need. To visit its official site, click here.