LexisNexis has introduced Lexis Practice Advisor, a “how-to” solution for transactional law practice specialists. The initial launch module focuses on general business law transactions – things like acquisition finance agreements. The next module, to be released in the spring of 2012, will focus on Financial Restructuring and Bankruptcy, with modules focusing other practice areas, industries, and jurisdictions to come later.

The new product represents a true workflow application that walks the user through a transaction.  It does require users to leave the application (forms are downloaded into Word, for example, rather than filled out and stored online), but over time we expect this kind of application to evolve into fairly comprehensive workspaces where transactional lawyers can spend much of their time, saving on costs and time.

Source:  Outsell Inc.