Is there room in the legal market for a third high-end legal research service? That is the question as Bloomberg, a company known for its financial news, attempts to muscle in on the turf now occupied by Westlaw and Lexis-Nexis. In December, it officially launched Bloomberg Law.
For Bloomberg, it is a radical move. It is the first time the company has untethered a major information product from its trademark terminals. The terminals are ubiquitous in financial firms but have never achieved significant presence in law firms.
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