Thomson Reuters
UnclaimedA leading provider of legal and business information and technology solutions.
Overview
Thomson Reuters provides legal, tax, and risk management content and technology solutions to professionals, enabling research, drafting, guidance, due diligence, and collaboration through AI-assisted analysis and integrated workflows.
Mission statement
To empower professionals with trusted content, AI-enabled tools, and integrated workflows that improve decision-making, efficiency, and collaboration.
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Claim Thomson ReutersUse your email at legal.thomsonreuters.com.What we offer
CoCounsel Legal
Simplify legal work with AI that integrates research, analysis, and drafting seamlessly.
thomsonreuters.com →CoCounsel Audit
Standardizes audit workflows with AI for improved accuracy and efficiency.
thomsonreuters.com →CoCounsel Tax
Enhance efficiency and accuracy in tax processes with AI-driven research and deliverable management.
thomsonreuters.com →HighQ
Accelerate legal delivery through secure collaboration and AI-powered client engagement.
thomsonreuters.com →Legal Tracker
Enhance legal efficiency and minimize costs through AI-driven matter management.
thomsonreuters.com →Westlaw Advantage
Accelerate legal research and strategic decision-making with integrated AI and trusted content.
thomsonreuters.com →SafeSend
Automates 1040 return preparation, enhancing efficiency and reducing manual input.
thomsonreuters.com →Market segments
Market size by segment
Growth potential (CAGR)
Audit and assurance automation
Tools and workflows that create audit-ready evidence, automate evidence analysis, maintain granular audit trails, and speed assurance across financial and non-financial reporting.
Products: CoCounsel Audit
Legal research and drafting
Integrated research, analysis, and drafting capabilities that deliver precise, citation‑backed answers and templates grounded in verified legal content to speed legal strategy and document production.
Products: CoCounsel Legal, Westlaw Edge, Westlaw Advantage, Practical Law
Tax workflow automation and compliance
Automation of tax preparation, filing, and advisory workflows with agents that scale capacity for complex engagements while maintaining compliance with firm and regulatory standards.
Products: CoCounsel Tax, Ready to Advise, Ready to Review, SafeSend
Matter management and legal operations
Matter and operations capabilities for managing legal workstreams, optimizing spend, integrating with existing workflows, and enabling secure client collaboration and engagement analytics.
Products: Legal Tracker, HighQ
More information about our offering
CoCounsel Legal
CoCounsel Legal is an AI-powered platform that unites research, analysis, and drafting in one seamless experience, grounded in trusted Westlaw and Practical Law content.
- Enhances Legal AnalysisCoCounsel Legal employs advanced AI to enhance legal analysis, streamlining the workflow for legal professionals.
- Utilizes Trusted SourcesThe platform's AI is grounded in extensive databases, ensuring accurate and reliable legal information for decision-making.
- Streamlines Legal ProcessesThis feature allows users to conduct research, perform analysis, and draft documents within a cohesive system, improving efficiency.
- Showcases Proven ResultsCase studies illustrate how firms have benefitted significantly from using CoCounsel, making it a compelling choice for legal professionals.
CoCounsel Audit
CoCounsel Audit standardizes audit workflows with AI-powered automation, delivering verifiable, citation-backed insights.
- Streamlines Audit ProcessesBy automating key steps in the audit process, CoCounsel Audit reduces time spent on manual tasks and enhances productivity, allowing professionals to focus on higher-value activities.
- Provides Verifiable InsightsCoCounsel Audit ensures that all insights generated are backed by reliable citations, which aids in compliance and boosts confidence during audit processes.
- Ensures ComplianceGuided Assurance identifies risks using AI to streamline the compliance process, enhancing overall audit quality and reliability.
CoCounsel Tax
CoCounsel Tax accelerates tax research and client deliverables using AI that centralizes trusted sources and firm data.
- Accelerate Client DeliverablesUtilize AI to produce client deliverables faster by integrating and centralizing relevant data and sources.
- Speed Up Tax ResearchEnhance the efficiency of tax research processes by leveraging AI to access and process trusted information rapidly.
- Craft Actionable StrategiesTransform raw client data into practical tax strategies using AI-driven insights and tools.
- Automate 1040 PreparationsSignificantly reduce time and errors in tax return processes by automating the preparation of 1040 forms.
Practical Law
Practical Law provides AI-powered legal guidance built on more than 650 attorney-edited guides, templates, and checklists.
- Provides Comprehensive Legal GuidanceAccess a vast collection of attorney-created material that ensures accuracy and relevance, facilitating informed legal decision-making.
- Streamlines Legal Drafting ProcessesUtilize pre-built templates and checklists to enhance efficiency in creating legal documents and ensuring compliance.
- Stay Informed On Legal ChangesReceive timely notifications about crucial changes in law, helping professionals remain compliant and well-informed.
- Enhances Research and AnalysisUtilize AI-driven insights to streamline research, enabling faster access to relevant legal information.
HighQ
HighQ is a secure collaboration platform that accelerates legal delivery through automated workflows and AI-powered client engagement.
- Streamlines Matter DeliveryUtilize automated processes to ensure timely and efficient handling of legal tasks and documents.
- Enhances Client CommunicationLeverage AI to boost response times and personalize client interactions effectively.
- Facilitates Secure TeamworkEnsure confidentiality and security while collaborating on sensitive legal documents.
- Measures Engagement EffectivenessAnalyze client interactions to optimize service delivery and improve client outcomes.
Legal Tracker
Legal Tracker is an AI-powered matter management solution that maximizes legal efficiency while reducing annual spend.
- Maximize Legal EfficiencyLeverage intelligent automation to streamline processes and improve case handling efficiency.
- Reduce Legal CostsImplement smart cost management practices that help in minimizing unnecessary legal expenses.
- Enhance WorkflowFacilitates smoother transitions and usage across multiple legal operations and systems.
- Enable Data-Driven DecisionsUtilize actionable insights for better management and optimization of legal resources.
Westlaw Edge
Westlaw Edge provides AI-powered legal research with precise, verified answers and strategic insights. The advanced technology reduces research time and enhances the accuracy of legal findings, ensuring timely access to critical information.
- Get Verified Answers QuicklyOur AI tools enhance the accuracy of your results, allowing for swift and confident legal research.
- Gain Strategic InsightsReceive actionable insights that guide legal strategies and improve case outcomes.
- Save Time on ResearchStreamlining research workflows means more time for case preparation and client engagement.
- Navigate EasilyDesigned for ease of use, ensuring that all users can find critical information without extensive training.
- Experience Seamless IntegrationWork across platforms to leverage all legal tools for better efficiency and collaboration.
Westlaw Advantage
Westlaw Advantage moves from research to strategy faster with agentic AI and comprehensive, verified Westlaw content.
- Enhances Workflow EfficiencyStreamline legal processes by integrating research directly into case strategy development.
- Provides Trusted ResourcesAccess reliable legal information tailored to jurisdiction-specific needs for informed decision-making.
- Optimizes Legal Research TimingImmediate access to current legal precedents and citations helps attorneys make strategic decisions faster.
- Connect Case Insights with Legal ResearchFacilitates seamless transitions from fact analysis to validated legal arguments during case preparation.
Ready to Advise
Ready to Advise turns client data into actionable tax strategies with AI that identifies opportunities and guides implementation.
- Identify OpportunitiesUtilize AI to analyze client data and pinpoint potential tax strategies that can enhance compliance and profitability.
- Transform Data into ActionsLeverage advanced analytics to derive clear and implementable tax strategies from client data.
- Guide ImplementationOffers step-by-step assistance to ensure effective execution of tax recommendations.
Ready to Review
Ready to Review scales tax capacity with AI that automates 1040 return preparation and eliminates manual data-entry tasks.
- Automates 1040 PreparationReady to Review significantly reduces the time and effort required for 1040 tax return preparation, allowing professionals to focus on higher-value tasks.
- Scales Tax CapacityReady to Review’s AI capabilities ensure firms can handle increased workloads without compromising quality or speed.
SafeSend
SafeSend scales tax capacity with AI that automates 1040 return preparation and eliminates manual data-entry tasks.
- Automates Tax PreparationThis feature enhances efficiency by leveraging AI to handle 1040 returns, which reduces errors and saves valuable time for tax professionals.
Sources
Methodology and sourcing behind the figures and links shown above.
Audit and assurance automation
Search results show the broader audit & assurance services market ranges widely (USD ~70B–234B). Audit automation (software/tools) is a subset of that services spend — typical software penetration of professional services suggests a single-digit percent share. Using the cited service market sizes as the TAM and factoring rapid AI-driven demand for audit automation (Fact.MR shows a nascent AI-agent audit market at USD 0.4B in 2025 with very high CAGR), I estimate the audit and assurance automation tools market at roughly USD 5–10B (midpoint USD 8B). Growth potential is materially higher than legacy audit services (3–6% reported), reflecting accelerating AI/automation adoption; I conservatively estimate ~20% CAGR.
Legal research and drafting
Estimate derived by combining documented market figures for adjacent subsegments: legal document drafting services (~$2.5–2.61B in 2024–2025; low-single-digit CAGR) and legal research platforms (smaller current base with high growth, projected $2.0B by 2031 at ~17.2% CAGR). These two subsegments form the core of “legal research and drafting”; their weighted average growth (by estimated 2025 shares) yields a mid-single-digit to low‑teens blended CAGR (~7.4%). Broader legal technology market reports (2025 market ~ $33B) were used to confirm this segment is a small but growing subset of overall legal tech.
- "Legal Research Platforms Market size is estimated to reach $2.00Bn by 2031, growing at a CAGR of 17.2% (2024-2031)."
- "As per MRFR analysis, the Legal Document Drafting Services Market was estimated at 2.5 USD Billion in 2024."
- "Legal Technology market size has reached to $32.98 billion in 2025 ... grow to $51.21 billion in 2030 at a CAGR of 9.2%."
Tax workflow automation and compliance
Estimate derived from recent market reports for overlapping categories (tax management, tax technology, tax compliance). Market reports cluster around USD 19–25 billion (2025) for tax management/tech; tax-automation/compliance subsegment aligns more closely with tax-technology figures, which project double-digit growth. I used a midpoint (~USD 22.5B) of the 2025 estimates and adopted a growth potential (CAGR ~12.3%) consistent with leading tax-technology forecasts.
- USD 24.52 billion in 2025; 2030 forecast USD 33.21 billion; CAGR 6.3% (2025-2030).
- The global tax technology market size was valued at USD 19.4 billion in 2025; CAGR 12.3% (2026–2034).
- Tax Tech Market was valued at USD 20.13 billion in 2025; expected USD 66.05 billion by 2035; CAGR 12.62%.
- Tax compliance software market: USD 22.52 billion in 2025 to USD 67.23 billion by 2034; CAGR 12.92%.
Matter management and legal operations
Search results show the overall legal services market is very large (US ~$305B; global ~$1,076B in 2025). Matter management and legal operations are a small software/technology subset of that market. Gartner guidance cited in vendor materials predicts legal departments will materially increase technology spend (threefold by 2025), supporting a higher-growth profile for legal operations software versus the wider legal services market. Combining the large addressable base, current modest penetration of dedicated matter-management/legal-ops software, and accelerated tech adoption, I estimate a global matter-management/legal-operations market of roughly $4B today with ~12% CAGR.
- Thomson Reuters
- CoCounsel Legal
- CoCounsel Audit
- CoCounsel Tax
- Practical Law
- HighQ
- Legal Tracker
- Westlaw Edge
- Westlaw Advantage
- Ready to Advise
- Ready to Review
- SafeSend
- 2024 Market Size $ 160 Billion
- The global audit and assurance services market was valued at USD 70.3 billion in 2024
- The global auditing services market size was valued at USD 233.95 billion in 2025
- Market Value (2025): USD 0.4 Bn; CAGR (2026-2036): 44.0%
- "Legal Research Platforms Market size is estimated to reach $2.00Bn by 2031, growing at a CAGR of 17.2% (2024-2031)."
- "As per MRFR analysis, the Legal Document Drafting Services Market was estimated at 2.5 USD Billion in 2024."
- "Legal Technology market size has reached to $32.98 billion in 2025 ... grow to $51.21 billion in 2030 at a CAGR of 9.2%."
- USD 24.52 billion in 2025; 2030 forecast USD 33.21 billion; CAGR 6.3% (2025-2030).
- The global tax technology market size was valued at USD 19.4 billion in 2025; CAGR 12.3% (2026–2034).
- Tax Tech Market was valued at USD 20.13 billion in 2025; expected USD 66.05 billion by 2035; CAGR 12.62%.
- Tax compliance software market: USD 22.52 billion in 2025 to USD 67.23 billion by 2034; CAGR 12.92%.
- The global legal services market was valued at USD 1,076.00billion in 2025.
- The U.S. legal services market size accounted for USD 304.93 billion in 2025.
- Gartner states, “by 2025, legal departments will increase their spend on technology threefold."
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