Optimizing Legal Information Pricing

For decision makers managing legal information resources at a firm, the goal is to purchase the most appropriate tools at the best price. In a market where pricing is confidential, no one firm can truly know whether their next proposal is reasonable and fair compared to the market. This can be a difficult task given the undisclosed pricing of Lexis and Westlaw, and the management time and factors that go into aligning the right products to fit the firm’s needs today and in the years ahead. 

Optimizing Legal Information Pricing is an essential resource for legal information administrators. First, this report provides the steps for revising a firm’s legal information strategy and evaluating the value of the firm’s resources. Secondly, it shares metrics and benchmarks for assessing the favorability of legal information resources and contracts. And lastly, Optimizing Legal Information Pricing presents key negotiation tips for optimizing outcomes.  

Do you truly know whether your contract has the best terms and pricing compared to the market?  How prepared is your firm for your next contract negotiation?

To determine if this report would be of value to you, consider the following:

  • ​Are you paying 3-5% increases annually just because?
  • When was the last time you had your legal information contracts benchmarked?
  • How prepared are you for your next legal information contract negotiation?
  • How does your contract pricing compare to your peer firms?

Proper execution to obtain optimized results in your contract negotiations can take up to two or three years. Law firm administrators seeking to maximize resources and results will glean necessary knowledge for planning, strategizing and achieving new efficiencies and an improved bottom line.

Table of Contents

​​​​Section I Process & Methodology

Section II Approach to Optimizing

Section III Firm Metrics

Section IV Feit Benchmarks: Lexis & Westlaw

Section V Feit Benchmarks: Other Products

Section VI Strategy & Negotiation

Section VII Future Forecast

Optimizing Legal Information Pricing

Price:  $3,950*

*Listed price is for law firms only. For all other interested parties, contact Feit Consulting for pricing.