As legal information experts, we closely monitor changes to pricing policies of the major players in the field. Recently, Lexis has stated that they will not allow AmLaw 200 Firms to purchase any of their other products if the firm does not retain their core Lexis contract.
While Lexis has made key exciting and smart acquisitions in the last few years, the value of all their products combined still is not enough to hold firms hostage to Lexis. With new assets such as Intelligize, Lex Machina, MLex, and Law360, Lexis is approaching a critical turning point, whereby they might soon be able leverage the total value of all products to force a firm to keep Lexis. In sum, by withholding these resources from firms now who do not hold a core Lexis contract, Lexis is foregoing critical buy-in for the long run.
Michael Feit earned his J.D. from the Loyola University School of Law in Chicago and was an executive at Westlaw before founding Feit Consulting 16 years ago. Feit Consulting partners with law firm administrators and legal information professionals to optimize vendor contracts and the management and delivery of legal information resources by providing leading-edge, customized solutions. Contact Michael at firstname.lastname@example.org