A recent article in our own local CALL Bulletin ( Chicago Association of Law libraries) about new legal research instruction, mentioned a resource that was unfamiliar to me. Its rather prosaic name was "The Practical Law Company" (PLC). Apparently, this company has been doing business in the legal community of the United Kingdom for nearly 20 years. But only launched its operations in the U.S. this past December.
The "practical" in its name implies that it would be directed at the actual practice of law rather than theoretical or academic explorations of legal topics. Given the growing critique of much of US law school education as being too disconnected from the knowledge and skills needed to be a practicing attorney. One could assume that introducing access to this resource in law schools, might be one attempt to remedy this perceived imbalance.

The online resources produced by the PLC's own expert staff are designed specifically for transactional attorneys. One author describes the Practical Law Company this way, "PLC is the UK's pre-eminent provider of legal know-how, transactional analysis and market intelligence for business lawyers." The material is developed and kept current by by their own attorney editors who have practiced at top law firms and law departments. A majority of AmJur 200 law firms subscribe to PLC.
With an excellent reputation and large market share in the UK, PLC has decided to expand their particular services to the U.S. market. To meet the level and qualitiy of services expected by clients, PLC invested over a year and a half preparing content for its U.S. Launch. The main areas that PLC is concentrating on are Corporate & Securities , Finance, Labor and Employment and Intellectual Property.
They believe that there is a market here too, for their brand of 'outsourced knowledge management' for completing a variety of transactions and "getting the deal done". As their web site states, "We go beyond primary law and research. We take the expertise of our team and distill it in a way that actually helps you get your work done. Nobody in the US does what we do. Period. "
That is not to concede that the major US-based online legal services, LexisNexis, Westlaw, Bloomberg Law have not provided resources geared specifically to transactional attorneys' work :
"Lexis Transactional Advisor, designed for lawyers who work on transactional law. Transactional Advisor helps you analyze strategies, prepare for and perform due diligence, stay on top of compliance issues, draft documents and more—all from a single online location for various practice areas."
"With Westlaw, you can review authoritative documents drafted by top law firms, find and complete official forms electronically," via Westlaw Form Builder, Model Documents. Many treatises and practice guides are available. Financial and investment analyst reports and extensive Company Profiles are also provided.
Bloomberg's "DealMaker contains deal news, editorial commentary, practice notes, legal treatises, deal timelines, checklists and a fully searchable EDGAR database. It also contains browseable and searchable model agreements, forms and publicly available documents." With its recent acquisition, Bloomberg also provides "access to BNA's Corporate Practice Series Portfolios, which include in-depth analysis of areas of interest to corporate law practitioners, texts of relevant laws, worksheets that contain forms and checklists, and subject bibliographies."
However, the exclusive focus on transactional work and high level of expertise they devote to their products may over time, eclipse the transactional offerings from the traditional U.S. providers.
Most of what The Practical Law Company does, seems directed at actual practitioners and at new associates who need to quickly get up to speed in a practice area. However, as with the big three use providers, marketing begins in the law schools. Exposure there can "imprint" a particular service on students who then continue using the service in their jobs after school. PLC is approaching law schools to acquaint law students with their products and possibly also provide missing career information for students considering practicing transactional law.
The terms are very attractive, as in "Free". "The free account includes: Unlimited access to our online legal know-how services while matriculated and until graduation (law students) or while affiliated with a law school (faculty and staff), plus full training and support.
Potential benefits for law student are described this way : "The law school home page for PLC has a link to a “Survival Guide” which includes over “50 step-by-step corporate, securities and finance resources to give you the tool to ace summer assignments.” The home page also links to “Interview Survival Guide” designed to quickly bring students up to speed “in the basics of corporate, securities and finance practice” to “[g]et the edge in interviews with your knowledge of deal trends and market practice.”
From a quick Google search, it appears that these law schools are at least exploring access to PLC for their students : University of Chicago, Loyola University Chicago School Of Law, Brooklyn Law School, Cornell Law School, Roger Williams University School of Law.
While these benefits may seem a bit thin compared to what practitioners get out of PLC's resources, exposure to and knowledge of such resources can probably help correct that practice imbalance identified in the opening of the post.