Bloomberg BNA today announced the launch of Bloomberg Law: Corporate Transactions, a web-based product that includes a technology-driven drafting workflow tool with its analytics powered by Bloomberg's financial databases, primary resources, secondary materials and practical guidance. This new offering allows corporate lawyers to know what deal terms are "market standard."
Putting "big data" to practical use, the new tool searches over one million documents, comparing agreements and clauses to yield "market standard" language. According to the press release, "Just as searchable databases of case law revolutionized the way litigators approached their work 30 years ago, Bloomberg Law: Corporate Transactions is set to dramatically change the workflow for transactional lawyers".
"We've developed an all-in-one solution that allows transactional lawyers to quickly draft, negotiate, and finalize a wide variety of agreements," said Carl Sussman, Commercial Product Director for Bloomberg Law. "The product's real power is the way it synthesizes over a million documents and returns results that are easily incorporated into a deal document. This is what leveraging big data is all about and where we clearly differentiate ourselves from the competition."
"We've developed an all-in-one solution that allows transactional lawyers to quickly draft, negotiate, and finalize a wide variety of agreements," said Carl Sussman, Commercial Product Director for Bloomberg Law. "The product's real power is the way it synthesizes over a million documents and returns results that are easily incorporated into a deal document. This is what leveraging big data is all about and where we clearly differentiate ourselves from the competition."
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