Bloomberg’s Big Bite for Billions of Legal Dollars

Posted: 6/5/2012  |  By: Jeff John Roberts | paidContent.org

For decades, the multibillion dollar market for legal research has been a cozy club for two. But now financial giant Bloomberg has fully powered up Bloomberg Law, a rival that could at last disrupt the status quo.

For Bloomberg, the new legal product is an expensive test of the company’s ability to find a major revenue stream outside its core financial business. But it also raises the question of how a stodgy industry is responding to sweeping changes that makes it easier for Americans to look up the law.