Thomson Reuters Takes Major Step to Transform Corporate Workflows with Launch of CoCounsel Legal, AI-enhanced Legal Tracker, and CoCounsel Tax

TORONTO, August 5, 2025 – Thomson Reuters Corporation (TSX/Nasdaq: TRI), a global content and technology company, today announced the launch of its next-generation AI solutions, purpose-built for professionals. Together, these new solutions – including CoCounsel Legal, AI-enhanced Legal Tracker, and CoCounsel Tax – support the end-to-end workflows for tax, accounting, legal, compliance, global trade, and other key enabling functions for businesses across the globe.

This expansion marks a major milestone in Thomson Reuters vision to deliver agentic AI systems at scale—replacing traditional task automation with intelligent orchestration, trusted domain reasoning, and workflow execution. Collectively, CoCounsel Legal, the AI-enhanced Legal Tracker, and CoCounsel Tax will extend Thomson Reuters unique intelligent compliance network to help accelerate new business generation, drive operational efficiency, execute digital transformation and improve customer loyalty for corporate professionals globally.

“Corporate professionals are navigating unprecedented regulatory and geopolitical complexities and facing increased demands on time and budgets. At the critical intersection of commerce and compliance, they require more than point solutions. They need AI systems that reason, cite, and act with professional-grade accuracy,” said Laura Clayton McDonnell, president of Corporates at Thomson Reuters. “CoCounsel Legal and CoCounsel Tax, alongside our other content-enabled technology, delivers embedded, connected, and intelligent solutions that empower professionals to operate with confidence.”

Thomson Reuters is strongly positioned to deliver this AI breakthrough for corporate professionals by combining its trusted content, deep domain expertise, and advanced AI capabilities. This holistic approach leverages solutions like CoCounsel Legal, including Deep Research and guided workflows, the powerful AI-enhanced Legal Tracker, and the specialized CoCounsel Tax platform. These powerful offerings are based on proprietary legal and tax content, a benchmarked multi-model architecture, and a rigorous orchestration layer that ensures every result is explainable, auditable, and actionable.

CoCounsel Legal is a next-generation AI product that brings together legal research, essential workflow automation, intelligent document management, and AI-powered legal assistance within one unified solution. It’s the first time agentic AI has been deployed this broadly across professional legal workflows—with the infrastructure and scale to support enterprise-wide transformation.

Unlike AI copilots that sit beside the work, CoCounsel Legal is embedded in it—built to drive real outcomes in litigation, transactional work, and regulatory analysis. It represents the foundation for how professional AI will be delivered across law firms and legal departments into the future.

The AI-enhanced Legal Tracker further bolsters this network of solutions by facilitating more informed decision-making and optimizing legal spend management. As the global industry-leading spend and matter management tool, Legal Tracker, now with its own AI Assistant, automates routine tasks, streamlines invoice review, and provides instant, data-driven insights. It automatically detects billing issues, such as duplicates and administrative charges, transforms invoices into standardized formats, and offers AI-enabled dashboards with natural language Q&A and anomaly detection, helping corporate professionals gain greater insight and control over their external legal spend.

CoCounsel Tax is an AI-powered research and workflow platform trained on trusted, tax-specific sources, developed exclusively to support tax professionals. It directly addresses pain points such as expensive external advisor dependency and time-consuming manual research by providing internal teams with expert-level capabilities. CoCounsel Tax synthesizes trusted sources, including Checkpoint, regulatory documents, and internal corporate guidance, to deliver accurate, plain-language answers—all fully cited and easy to verify. It functions as both a research platform and collaborative document workspace, complete with intelligent templates that help standardize processes, ensure consistency, and automatically surface insights, enabling tax professionals to transform research into action.

Empowering Enterprise AI Transformation

This announcement marks a critical milestone in Thomson Reuters vision to deliver the industry’s most comprehensive intelligent compliance network for corporate functions. Thomson Reuters expects that together, these offerings will form a foundational enterprise AI stack—an AI-powered operating system for enterprise knowledge work across legal, tax, compliance, accounting, global trade, and other data-intensive enabling functions. 

The business rationale for this focus on corporate knowledge workers is rooted in Thomson Reuters mission to address its customers’ biggest pain points and growing demand among corporate professionals for solutions to help manage increased workloads and complexity, as well as heightened volatility. Research shows that corporate professionals are among the most eager adopters of AI. According to the Thomson Reuters Future of Professionals Report 2025, 55% of corporate legal departments have adopted new AI tools in the past 12 months—outpacing law firms and external providers. In parallel, 75% of corporate tax professionals now support the use of generative AI in their work, up 15% from prior year. This launch meets that demand head-on, offering teams a single, trusted network.

"The most exciting development in corporate legal today is the emergence of legal-grade generative AI, purpose-built for professions like ours," said J. Brad Whitus, VP and Associate General Counsel, Technology & Growth at nVent. "These sophisticated platforms will significantly enhance the productivity of our legal operations globally, and free up our teams to focus on high-impact strategic projects that directly support nVent’s growth and risk management objectives. Human expertise remains at the forefront, elevated by powerful AI capabilities that enable our professionals to excel."

“We consistently hear from our corporate customers that in today's fast-paced business environment, they simply cannot afford to be reactive,” Clayton McDonnell emphasized. “They need the foresight to anticipate challenges, develop proactive strategies, and make critical decisions faster than ever. We believe that our integrated CoCounsel solutions empower them to do just that, delivering not just efficiency and time-savings, but the depth of information and insight essential for navigating complexity with confidence.”

About Thomson Reuters:

Thomson Reuters (TSX/Nasdaq: TRI) informs the way forward by bringing together the trusted content and technology that people and organizations need to make the right decisions. The company serves professionals across legal, tax, accounting, compliance, government, and media. Its products combine highly specialized software and insights to empower professionals with the data, intelligence, and solutions needed to make informed decisions, and to help institutions in their pursuit of justice, truth, and transparency. Reuters, part of Thomson Reuters, is a world-leading provider of trusted journalism and news. For more information, visit tr.com.

Media Contact:
Lindsay Bomar
+ 1 817 729 5644
Lindsay.Bomar@tr.com

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS, MATERIAL RISKS AND MATERIAL ASSUMPTIONS

Certain statements in this news release, including, but not limited to, statements regarding strategic priorities, initiatives and opportunities, are forward-looking. The words “will”, “expect”, “believe” and similar expressions identify forward-looking statements. While the company believes that it has a reasonable basis for making forward-looking statements in this news release, they are not a guarantee of future performance or outcomes and there is no assurance that any of the other events described in any forward-looking statement will materialize. Forward-looking statements are subject to a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from current expectations. Many of these risks, uncertainties and assumptions are beyond the company’s control and the effects of them can be difficult to predict. You are cautioned not to place undue reliance on forward-looking statements which reflect expectations only as of the date of this news release. Except as may be required by applicable law, Thomson Reuters disclaims any obligation to update or revise any forward-looking statements.