At LexisNexis, we are building the future by combining the best content written by the best experts, legal and judicial data, and the most advanced technologies, in particular theAI to help legal professionals make the best decisions.
What is LexisNexis?
Philip Carillon: LexisNexis is a global group whose ambition is to contribute to the rule of law and the rule of law throughout the world. We do this as a company, by designing content and technological solutions for legal and accounting professionals. We are probably the world’s leading group in the legaltech sector with products such as Lexis 360 intelligence, Lex Machina, Lexis Plus, or even, more recently, Closd.
In France, LexisNexis offers legal information and analytics solutions, as well as business software in Saas mode, for legal and accounting professionals. We devote 20 million euros per year to innovation and our R&D program. To be concrete, I would like to cite a few examples of our achievements. Lexis360.fr is the leading legal documentation and analytics site in France with 25 million content and 100,000 active users. With the new version, called Lexis 360 intelligence, we have enriched the experience with analytics, particularly on case law. It is a complete decision support tool for legal professionals, with access to all positive law, doctrine, practical content and analytics.
Lexis Poly, for its part, is a suite of software in SaaS to generate contracts and legal documents in an automated way, based in particular on our database of models, the largest in France. Finally, Closd.com, acquired in December 2021, is an end-to-end solution for managing complex legal projects involving multiple parties and requiring secure exchanges, such as in mergers and acquisitions or in real estate, for example.
- How was the company born (its history, its development over the years)?
Our activity in France celebrates its 115th anniversary this year. And it has been, from the outset, an entrepreneurial adventure characterized by continuous innovation, combining content and technology.
The company was created in 1907 to publish the JurisClasseur, these legal encyclopedias which have profoundly transformed the daily life of lawyers, by allowing their content to be updated very easily, with electric binding and interchangeable booklets. This continuous update foreshadowed the digital solutions we know today!
Philip Carillon: We do not skimp on human expertise! In France, our teams are notably made up of more than 150 engineers and more than 200 lawyers with a network of more than 8,000 authors working on all of our solutions.
In 1927, the house launches Legal Weekthe weekly magazine which nearly a century later remains a reference. In 1972, the company creates the very first computerized case law database, JurisData, with the visionary Professor Catala and his teams.
En 1993, the company became part of the Dutch group Relx (formerly Reed Elsevier) which is a pioneer in investing in cutting-edge decision support and legal analytics technologies. In the early 2000s, we adopted the LexisNexis name and launched our first solutions on the Internet, in 2002 in France.
Then, in 2011, a new step has been taken with the release of Lexis 360, which incorporates all LexisNexis content (encyclopedias, journals), adds exclusive practical content and uses artificial intelligence and semantics for the first time for its search engine . the machine learningthe natural language processing and AI in general have since become ubiquitous in our developments, and always linked to human intelligence which supervises, controls and enriches the work of the machine. Proof of this work, JurisData Analytics launched in 2016, on compensation litigation and Lexis 360 intelligence and its analytics including, for example, the litigation profile of companies.
What is the operational logic of your business model based on?
Our economic model is based overwhelmingly on subscription, mainly to digital solutions. This model allows us to establish long-term relationships with our customers whose loyalty is our pride. We owe many of our recent innovations to this ongoing dialogue with customers, in a logic of co-construction according to the principles of the agile method.
Moreover, we do not skimp on human expertise! In France, our teams are notably made up of more than 150 engineers and more than 200 lawyers with a network of more than 8,000 authors working on all of our solutions. And in the CEMEA zone, more than 400 lawyers and 300 engineers work together. Together, they contribute each year in complete independence to our editorial excellence under the aegis of a scientific committee made up of eminent professors and major signatures.
Philip Carillon: We are very attached to human expertise and we know that the machine absolutely cannot replace the human.
To meet the needs of lawyers, notaries, magistrates, jurists in the private and public sectors or even chartered accountants, we need this union of human and artificial intelligences. And innovation is not only technological, it also concerns content which must be ever more operational and practical. The sources of law (legislation, regulations, case law) are not sufficient on their own, they are enriched with comments, analyzes and practical content which constitute an essential legal doctrine, designed to make decisions.
We are very attached to human expertise and we know that the machine absolutely cannot replace the human. Its role is to relieve time-consuming tasks, to write more quickly, to work more efficiently during due diligence or to identify more quickly the relevant information in a decision. This fluidity represents a real benefit for the customer. The deployment of Legaltechs is therefore an opportunity for the legal professions, provided that they take ownership of the change.
What are your short-term development goals?
Our ambition is to promote legal intelligence that combines people and technology in a virtuous and responsible way. This requires continuous work to understand the needs of lawyers, develop relevant use cases, create rich and quality training data, and defend an ethics of data and algorithms. It also requires strong technological skills and capabilities to acquire and process ever-increasing data flows, whether open data (e.g. case law) or private data (e.g. contracts) , and to structure information and extract data from it. For example, Lexis 360 intelligence, represents several years of R&D and intense co-construction with more than 1000 legal professionals.
LexisNexis in December 2020 acquired Closd, a leading French start-up in Europe in transaction management. Its technological advantage in the management of legal workflow, data rooms and electronic signature allows our clients to work more efficiently. This acquisition is in line with our organic growth strategy, supported by acquisitions of analytics and workflow automation solutions.
Legaltechs like LexisNexis play an essential role in the development of legal professions. They constitute a development opportunity for professionals who will be able to take advantage of them.
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We would love to thank the writer of this post for this outstanding content
Philippe Carillon (LexisNexis): “Our ambition is to promote legal intelligence that combines people and technology in a virtuous and responsible way” – Forbes France
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