Thomson Reuters sells software and information services to legal, tax, and accounting professionals. Its flagship product is Westlaw, the dominant legal research platform used by law firms, in-house legal departments, and government agencies. Westlaw contains 1.9B documents from over 3,500 sources, enhanced by an editorial layer of more than 1,500 attorney editors who produce 1.6M updates per year. Thomson Reuters is extending Westlaw with CoCounsel Legal, an agentic AI platform that adds research, drafting, and document review workflows. On the tax side, Checkpoint serves as the primary research platform for tax and accounting professionals, while UltraTax, GoSystem Tax, and ONESOURCE handle tax compliance for accounting firms and corporate tax departments. Thomson Reuters is layering AI tools onto these platforms, including Ready to Review (automating first-draft tax return preparation) and Ready to Advise (AI-driven tax planning). The company sells primarily through a direct sales force to approximately 450,000 customers. About 81% of revenue comes from recurring subscriptions under annual or multi-year contracts, making the revenue base highly predictable. The cost structure is predominantly fixed, which creates operating leverage as revenue scales. Thomson Reuters organizes its business into five segments: Legal Professionals, Corporates, Tax/Audit/Accounting Professionals (collectively the "Big Three"), Reuters News, and a declining Global Print business. Growth is driven by pricing increases, upsell into higher-tier AI-enabled products, and bolt-on M&A to extend workflow capabilities.