When the money flows, large law firms and their libraries provide access to all manner of sophisticated legal and financial research databases, reports law.com today.
"[C]osts for electronic resources other than LexisNexis and Westlaw rose in 2008, with the average firm spending just over $1 million, compared to some $929,000 in 2007."
Many of these resources seemed indispensable, until the economy crashed. Now a growing number of law firms are being forced to make the ultimate choice: Westlaw or Lexis. They can no longer afford or justify access to both.
Last year just 12 percent of firms said they intended to move to a single-vendor strategy. This year, 31 percent did. "In good times, we could all have Coke and Pepsi," says a library chief. "Now management is more willing to say that we'll make do with one."
Some firms, even BigLaw, are looking for cost-effective alternatives. Earlier this year Locke Lord Bissel & Liddell made news when it published a memo requiring that all non-billiable research be done first in Loislaw.
All non-billable legal research involving case law, statutes or regulations at both the state and federal level should first be performed using Loislaw. Loislaw should also be used for billable research where appropriate, resulting in a much lower cost to the client. If additional research is required on Lexis or Westlaw that research must be billed to a client/matter. [Locke Lord Bissell & Liddell Memo]
Fortunately for you, UConn Law School Library provides access to Loislaw. Please ask at our reference desk if you have any questions about Loislaw or any other non-"wexis" legal research alternatives.