Sec. 5. Definitions
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For purposes of this Act: The term antitrust laws has the meaning given the term in subsection
(a)of the first section of the Clayton Act ( 15 U.S.C. 12 ). The term Beneficial Interest means with respect to a person, having access to competitively sensitive information or the ability to affect the person’s strategic decisions. The term Commission means the Federal Trade Commission. The term control with respect to a person means— holding 25 percent or more of the stock of the person; having the right to 25 percent or more of the profits of the person; having the right to 25 percent or more of the assets of the person, in the event of the person’s dissolution; if the person is a corporation, having the power to designate 25 percent or more of the directors of the person; if the person is a trust, having the power to designate 25 percent or more of the trustees; or otherwise exercises substantial control over the person. The term covered platform means an online platform— that has been designated as a covered platform under section 6(a); or that— at the time of the Commission’s or the Department of Justice’s designation under section 6(a), or any of the twelve months preceding that time, or in any of the 12 months preceding the filing of a complaint for an alleged violation of this Act— has at least 50,000,000 United States-based monthly active users on the online platform; or has at least 100,000 United States-based monthly active business users on the platform; is owned or controlled by a person with net annual sales, or a market capitalization greater than $600,000,000,000 at, adjusted for inflation on the basis of the Consumer Price Index, the time of the Commission’s or the Department of Justice’s designation under section 6(a) or any of the two years preceding that time, or at any time in the 2 years preceding the filing of a complaint for an alleged violation of this Act; and is a critical trading partner for the sale or provision of any product or service offered on or directly related to the online platform. The term covered platform operator means a person that, directly or indirectly, owns or controls a covered platform. The term critical trading partner means an entity that has the ability to restrict or impede— the access of a business user to its users or customers; or the access of a business user to a tool or service that it needs to effectively serve its users or customers. The term business user means a person that utilizes or plans to utilize the covered platform for the sale or provision of products or services. The term formerly affiliated person means a person that was owned or controlled by a covered platform prior to termination of the affiliation described in section 3. The term online platform means a website, online or mobile application, operating system, digital assistant, or online service that— enables a user to generate content that can be viewed by other users on the platform or to interact with other content on the platform; facilitates the offering, sale, purchase, payment, or shipping of goods or services, including software applications, between and among consumers or businesses not controlled by the platform; or enables user searches or queries that access or display a large volume of information. The term person has the meaning given the term in subsection
(a)of section 1 of the Clayton Act ( 15 U.S.C. 12 ).
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