Michael Bloomberg built a $6 billion-a-year business by taking a mystifying bundle of financial data and making it indispensable to Wall Street professionals. Now his company is wagering it can do the same for lawyers.  With Bloomberg Law, the company’s entry into the market for electronic legal research, it moves into direct competition with Westlaw and LexisNexis, two services that dominate a business that generates $8 billion a year in revenue. Westlaw and LexisNexis are as deeply woven into the lives of lawyers as Bloomberg terminals are for traders.  Source: The Wall Street Journal

BIIA Newsletter July I – 2010