The Practical Law Company's site shows the upcoming launch of US modules of their successful UK formula. They've been having pre-launch lunches throughout September although I'd be interested to know anyone out there who attended these in the middle of the Credit Crunch. In an interesting piece of timing - good or bad (comments anyone?) - their practice areas are Corporate & Securities and Finance. This has been coming for some months (pre-Credit Crunch) and the Corporate & Securities area covers securities and capital markets, private equity, joint ventures and amusingly venture capital. I guess at least the Finance area covers Bankruptcy ...
Now the interesting questions that come to mind. The big two in the UK have been strangely muted in their reaction to the "threat" of PLC over the years, a reaction only appearing in the last year or so with "practical" modules in the form of Lexis KnowHow and Lawtel modules of precedents and checklists. I'm not sure PLC will get the same benevolence in the US with the Wexis dominance of the market. Is this a genuine attempt to crack the US or a chance to sell up to one of the big boys?
As we know from the music industry the big players in the UK often don't make it big on the other side of pond (the list is endless), I wonder if PLC are going to go to top the billboard chart or end up playing clubs in the Mid-west. Will PLC get the chance to wow the lawyers the same way they have the lawyers at the firms I work with ... give them a few years and they've got a chance but will the big two allow them the opportunity?
Tuesday, 28 October 2008
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