Sec. 3. Definitions
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The term antitrust laws has the meaning given the term in subsection
(a)of section 1 of the Clayton Act ( 15 U.S.C. 12 ). 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 4(a); or that— at any point during the 12 months preceding a designation under section 4(a) or at any point during 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 operator; or has at least 100,000 United States-based monthly active business users on the online platform; as of the date of enactment of this Act, was owned or controlled by a person with United States net annual sales of $600,000,000,000 in the prior calendar year or with a market capitalization of greater than $600,000,000,000, as measured by the simple average of the closing price per share of the common stock issued by the person for the trading days in the 180-day period ending on the date of enactment 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 owns or controls a covered platform. The term critical trading partner means a person that— owns or controls an online platform; and has the ability to restrict or impede the access of— a business user to its users or customers; or 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 online platform means a website, online or mobile application, mobile 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 products or services, including software applications, between and among consumers or businesses not controlled by the platform operator; 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 ). The term State means a State, the District of Columbia, the Commonwealth of Puerto Rico, and any other territory or possession of the United States.
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